March 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Pradhan, Odisha CM discuss Japanese investment in steel sector

Union Steel Minister Dharmendra Pradhan ...

  • Mr Dharmendra Pradhan

Union Steel Minister Dharmendra Pradhan and Odisha Chief Minister Naveen Patnaik in February discussed prospects of Japanese investment in the steel sector and downstream development in the state with Japanese Ambassador Satoshi Suzuki. Pradhan and Suzuki met Patnaik to discuss development of a steel cluster in the state. “Japanese investments and technology flow into Odisha will strengthen the steel sector, generate large scale employment and create win-win situation for all stakeholders,” said Pradhan.

More than 75 per cent of India’s envisioned incremental steel capacity will come from eastern India with Odisha alone crossing 100 MTPA, he said, adding that there is immense scope for growth in high grade steel, downstream sector, ancillaries, capital goods and cluster development.