The primary metal industry of the country has been not just at a standstill for last couple of years but the capacities in steel, aluminium and other primary metals set up in Odisha with investments of approximately
Rs 2,00,000 crore of private and public money are becoming idle for want of raw material.
lakhs of jobs which could have been created in running the installed mega mineral and metal projects to their full rated capacities and consequent downstream industries are today nonexistent. All this is not only positioning primary metal industry in general and steel industry in particular, as the highest NPA carrying industrial sector of the country (over Rs 300,000 crore NPA) but is also putting the future of financial and manufacturing industrial sectors at a stake.
How we reached this sorry state of affairs is no longer of consequence but what ought to be done is more important for the country and more so for a State like Odisha whose socio- economic progress depends so heavily on the revenue coming from its mineral and metal industry.
Under the conditions, it would be naturally expected that the Odisha Government and its agencies would work not only towards revival of idle capacities, but also ensure their long term growth objectives.
However, the reality sadly is far removed.
The latest in this is the SlP filed by the Odisha Government against the Orissa High Court order for JSPl to lift iron ore it had purchased from Sarada mines to run its mega steel plant in the State and for which the royalty too has been paid. There could be commercial or legal issues involved in prompting this SPl filed with the Supreme Court and one surely cannot and should not fault and doubt the State Government’s intentions working for the welfare of citizen of Odisha.
Obviously, it is left to the honorable Supreme Court to take all round view on the clear and unambiguous judgment by the High Court. However, would not be a full capacity operating steel plant with uninterrupted supply of raw material a better source of revenue for the StateIJ A closed plant and an abandoned project can hardly ever be good advertisement for drawing big ticket investments into OdishaIJ Then why this hesitation and reluctance in supporting industries that were, in the first place, here in Odisha on an invitation and made thousands of crores of investment on promise of raw material supply securityIJ
Surely, the State Government is aware of the difficult times the steel industry is, as such, going through all aroundIJ
(The writer is an industry expert)