Excelsior Correspondent
SRINAGAR, Aug 8: Five years after the Central Government had announced to set up the Steel Processing Unit (SPU) at Lassipora Industrial Estate in Pulwama district, the State Government and Steel Authority of India Limited (SAIL) are meeting this month to find a headway to begin work on the much-hyped project.
The foundation stone for the 1 lakh tonne of TMT bars and galvanised corrugated sheets per annum unit at Lassipora Industrial Estate was laid in September 2008 by then Steel Minister Ram Vilas Paswan who had also announced Rs 150 crore investment for the SAIL unit.
Executive Director Steel Authority of India Limited (SAIL), S. K. Dey told Excelsior that SAIL authorities have written a letter to the J &K Commissioner Secretary Industries to hold a meeting with the Director (Technical) SAIL to iron out the differences for setting up the plant.
“The establishment of the plant will depend on the outcome of the meeting,” Dey said.
The Government had also boosted that thousands of youth would get job in the plant which was to be made operational in 18 months. The State Government had also allotted 200 kanals of industrial land to SAIL at Lassipora.
Minister of State Industries and Commerce, Sajad Ahmad Kichloo said the company has asked for 25 per cent of the total share of the plant which will be discussed in the meeting to be held next week. Kichloo said state will fully invest in the project, and will use the trademark of SAIL.
Managing Director SIDCO, Mohammad Muazzam, said earlier SAIL had to set up the plant at the industrial sector, but after change in the Steel Ministry at the Centre they decided SAIL will not set up the plant on its own, but will go in equity partnership with share holders.
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