Union Steel Minister Dharmendra Pradhan will launch Purvodaya on Saturday– a programme jointly organized by the Ministry of Steel, CII and JPC for accelerated development of eastern region through an integrated steel hub, in line with Prime Minister Narendra Modi's vision for focused development of the eastern states, on Saturday.
Notably, the Prime Minister has been stressing the need for focused development of the eastern states in order to unleash their untapped potential thereby ensuring the growth of the region as a whole and the country at large.
Creation of such a world-class steel hub would significantly contribute to Purvodaya by propelling socio-economic development in the Eastern region, said sources.
Steel capacity addition, as envisioned in the hub would entail capital investments of $70 billion and lead to an incremental GSDP of $35 billion through steel alone.
Growth of steel industry through such a hub would lead to significant employment opportunities across the entire value chain, creating over 2.5 Million jobs in the region.
Creation of world-class logistics and utilities infrastructure would also spur development of other manufacturing industries across sectors.
This would also be accompanied by social infrastructure in the form of cities, schools, hospitals, skilling centres etc, said sources.
Such development, especially in the most under-developed regions in these states, will play a significant role in overall socio-economic growth of Eastern India, thus reducing the disparity between the East and other regions of the country.
A policy facilitating the creation and upgradation of steel clusters has been put up after due consultation with Central Ministries, State Governments and industry. Kalinganagar and Bokaro have been identified as pilot locations for steel clusters around ISPs.
Task Forces and Working Groups, with the support of the respective State Governments, have been created.
Detailed planning for operationalization of these clusters is currently underway. Critical logistics and infrastructure projects are being identified for expedition across the 12 major steel zones identified in the region
Those are Kalinganagar, Angul, Rourkela, Jharsuguda, Nagarnar, Bhilai, Raipur, Jamshedpur, Bokaro, Durgapur, Kolkata and Vizag.
These include major rail, road and port capacity expansion projects to debottleneck existing capacity and create world-class multimodal logistics infrastructure across these zones.