Srinagar, Sep 9 (UNI) The Steel Authority of India Ltd (SAI) will set up a steel processing unit in South Kashmir and 23 other projects costing Rs 1,002 crore have also been cleared by the Apex Clearance Committee (ACC).
An official spokesman today said the 24th meeting of ACC was held under the chairmanship of Chief Secretary S S Kapur to clear various investment proposals in medium and large sectors.
He said the committee approved a proposal of SAIL, a Government of India enterprise, for setting up a steel processing unit at Lassipora, Pulwama in South Kashmir.
The project will have production capacity of one lakh tonnes of TMT bars and GC sheets per annum.
The said project is being set up at a cost of Rs 100 crore and will create employment opportunities for a number of unemployed youth.
Shri Cements project worth Rs 164 crore was also approved which will have a potential for creation of many ancillary units.
He said the other projects cleared are for manufacturing of high precision auto components, terri-towels, cement, hi-tech batteries, LT/HT wire cables, steel products, paints, DG sheets, electric motors and steel pipes.
The total investment to be mobilised on setting up the 23 projects, cleared by the committee, will be to the tune of Rs 1002 crore and these will be creatre direct employment for abut ,500 people.
The Chief Secretary directed for proper zoning of new industrial estates, keeping in view various industrial activities, pollution norms and other related factorss so that Common Effluent Treatment Plants could be designed and set up in the State.
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