India Japan Comes together to invest in steel sector in Odisha.

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The Government of India and the Odisha Government has come together with Japan to exploit the potentials in the steel sector to prosper Odisha. The three parties met in Bhubaneswar on Thursday and had discussed avenues for collaboration.

While Chief Minister Naveen Pattnaik led Odisha, Union Minister Dharmendra Pradhan was for the Central Government in the meeting with Mr. Satoshi Suzuki, Japan’s ambassador to India.

Chief Minister Naveen Pattnaik, in the meeting, said Odisha being the largest steel-producing state in the country, there is ample scope for ancillary industries in the steel sector. The CM offered the Japanese delegation to invest in the sectors of Automobile, food processing, and petrochemicals also.

He also suggested Japan set up an industrial corridor near Bhubaneswar for which Odisha government would extend all supports.

Minister Pradhan said, “Government of India is keen to have Japan to be partner country in Mission Purvodaya envisioned by Hon. Prime Minister Shri Narendra Modi to ensure the development of Eastern India. Japanese investments and technology flow can create a win-win for all stakeholders, generate large scale employment and script a better future for people of Odisha.”

 “With an abundance of raw materials, strategic geographical location and strong and developing connectivity, Odisha is well poised to be the heart of this eastern steel hub. In Odisha, Kalinganagar will be developed as the epicenter of Mission Purvodaya. Working together with the Odisha Govt. central ministries and industry, Steel Ministry aims to make Kalinganagar, a vibrant hotspot of the global steel industry.”, said Mr. Pradhan.

Mission Purvodaya in the steel sector envisions creating an integrated steel hub in Eastern India.

More than 75% of India’s envisioned incremental steel capacity will come from eastern India, with Odisha alone crossing 100 MTPA. There is immense scope for growth in high-grade steel, downstream sector, ancillaries, capital goods, and cluster development. Japanese technological expertise, investments will further strengthen the steel sector in Odisha and drive socio-economic growth.

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