December 24, 2024 09:30 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Five soldiers killed, several injured as Army truck falls into Poonch gorge | Allu Arjun quizzed by police in Pushpa 2 stampede case | Wanted Indian drug smuggler killed in the US | Congress leader files complaint against Allu Arjun for 'insulting police' in Pushpa 2: The Rule | Ahead of Jaishankar's US visit, foreign secretary Vikram Misri meets top US diplomats | India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people | Kuwait PM personally sees off Modi at airport as Indian premier concludes two-day trip

Union Steel Minister inaugurates steel unit at Gwalior

| | Aug 18, 2015, at 04:59 am
Gwalior, Aug 17 (IBNS): Union Minister of Steel and Mines Narendra Singh Tomar inaugurated a Steel Processing Unit established under Public Private Partnership between SAIL and Prime Gold Private Limited.
The unit has been set up in Billowa, Madhya Pradesh under a Joint Venture. M/s Prime Gold has 74% and SAIL has 26% stakes in this unit, which will produce one lakh tonnes of world class TMT steel and 60,000 tonnes billets will be supplied from SAIL plants to this unit annually. With setting up of the unit, a large number of direct and indirect employment opportunities will also be generated.

In his inaugural address, Tomar said, "With establishment of this steel processing unit, many employment opportunities will be generated and a number of development avenues will open up for the local population. This unit is a firm step towards achieving the goals of Make in India. The steel sector contributes to more than 2% of the GDP and employs around 6 lakh people and we plan to increase this number manifold. The Ministry of Steel in association with the Ministry of Skill Development and Entrepreneurship has taken many initiatives for skill development in the steel sector which will open up new opportunities for employment generation."

The establishment of this steel unit is a novel initiative by the steel ministry for turning the Make in India vision into a reality. The highlight of the unit will be to provide high quality steel at reasonable prices to rural areas around Madhya Pradesh like Uttar Pradesh, Rajasthan, Delhi and Haryana. SAIL will market the steel TMT produced from this unit through its widespread marketing network and shall pay conversion charges on per tonne basis to the JV partner, an official statement said.
 

 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.