PIB Daily

PIB Daily – 12th & 13th January 2020 – IASToppers

Integrated Steel Hub;
By IASToppers
January 13, 2020

Contents

Key Facts for Prelims

  • Steel Hub is launched by Minster of Steel
 
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Key Facts for Prelims

Steel Hub is launched by Minister of Steel

Minister of Petroleum and Natural Gas & Steel launched Mission PURVODAYA: Accelerated development of eastern India through integrated steel hub in Kolkata, West Bengal.

Mission Purvodaya 1

  • Through this programme, the government aims to transform logistics and utilities infrastructure which would change the socio-economic landscape in the eastern India.
  • The steps, under mission, also include growth of steel industry along with employment opportunities across the entire value chain.

INTEGRATED STEEL HUB

  • The steel hub encompasses Odisha, Jharkhand, Chhattisgarh, West Bengal and Northern Andhra Pradesh.

Mission Purvodaya2

  • It aims to attract investment of nearly $70 billion in the steel sector and spur economic growth across eastern India.
  • It is a part of Mission Purvodaya initiative which has been launched for the focused development of eastern states.
  • The project will focus on three key elements:
  1. Capacity addition through easing the setup of greenfield steel plants.
  2. Development of steel clusters near integrated steel plants as well as demand centres.
  3. Transformation of logistics and utilities infrastructure in the eastern region.

SIGNIFICANCE OF THE STEEL HUB

  • Government estimates suggest capacity addition in the steel hub would entail capital investments of over $70 billion.
  • It will lead to an incremental Gross State Domestic Product of over $35 billion through steel alone.
  • It will create over 5 million jobs across the steel value chain in the region.
  • The steel hub which will serve as a catalyst in the transformation of the eastern region following the Rs 100 lakh crore infrastructure investment (through National Infrastructure Pipeline) announced by the government in the next 5 years.

THE EASTERN STATES

  • The eastern states are rich in natural resources and collectively hold nearly 80% of the country’s iron ore, most of domestic coking coal reserves and significant portion of chromite, bauxite and dolomite reserves.
  • The eastern belt has the potential to add more than 75% of the country’s incremental steel capacity envisioned by the National Steel Policy.
  • Out of the 300 mt steel capacity by 2030-31, the region alone is capable of contributing over 200 mt.
[Ref: PIB, Economic Times]
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