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Ease Duty on Iron Ore, Jindal Urges State Govt

Published: 29th December 2015 03:34 AM  |   Last Updated: 29th December 2015 03:34 AM   |  A+A-

BHUBANESWAR: Chairman of Jindal Steel and Power Limited (JSPL) Naveen Jindal on Monday requested the State Government for rationalisation of iron ore duty structure as the steel industry is passing through a very difficult phase with most of the units incurring losses.

Jindal said most of the steel plants, which invested heavily in Odisha, are incurring losses. Besides, 90 per cent of the sponge iron plants have also shut down, rendering thousands of people unemployed.

He said the State Government should enhance the availability of iron ore and coal. The iron ore duty structure also needs to be rationalised, he said and added that at present, duty of high grade lumps is applied even on low grade iron ore fines. This should change, he said after a meeting with Chief Secretary AP Padhi here.

Jindal said steel industries are also not in a position to pay exorbitant water cess and the levy to the Water Conservation Fund.

The JSPL Chairman said the company is committed to expansion of the Angul steel plant.

“The first phase of the Angul plant is completed. The plant capacity would be expanded to 3.5 million tonne per annum (mtpa) by end of 2016 and six mtpa by March 2018,” he added. 



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