Srinagar, Sep 22 (UNI) Union Minister of Chemicals, Fertiliser and Steel Ram Vilas Paswan today laid the foundation stone of valley's first steel processing unit at Lassipora, Pulwama, in south Kashmir.
Mr Paswan said that the unit is a part of the initiative of his ministry to set up steel processing units in such areas which do not have the steel plants and where there is substantial demand for steel.
He announced that Rs 150 crores will be invested by Steel Authority of India (SAIL) and it will be completed by January 2010.
Mr Paswan said that in the last four years, steel production in the country has increased from 35 million tonnes per annum to 59 million tonnes.
Our endeavour is to make it 124 million tonnes in the next three years, he said and added that despite the increase in production, there is big gap between demand and supply, he added.
Mr Paswan assured that the unit will go a long way in providing employment to the youths of the valley.
He thanked Governor N N Vohra for the cooperation, the state government had provided for setting up of this unit.
The Minister expressed the hope that any requirements of land and other facilities will be no problem in expanding the unit.
Being built with an initial capacity of one lakh tonnes per annum, the Pulwama Steel Processing Unit (SPU) will produce TMT Bars in eight to 25 mm diameter and galvanised corrugated sheets from input materials sourced from SAILs Integrated Steel Plants.
The Unit will have TMT Bar Mill with 40 thousand tonnes per annum TPA capacity and cut to length and corrugation line of 60 thousand TPA capacities for GP Coils and Sheets.
Mr Vohra while expressing satisfaction on the establishment of the unit, urged the Kashmiri youth to take full advantage of the incentives being provided under the industrial policy of the state and central governments and set up their enterprises in a big way.
He said that at Lassipora Industrial Estate, the land has been allotted to 104 units and 20 of these units are already operating.
He hoped that more units will soon come up at the industrial estate.
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