The State Governments has plans to revive the Orissa Sponge Iron and Steel Limited and the Idcol Kalinga Iron Works Limited, informed Industries Minister Dibya Shankar Mishra in the State Assembly on Friday.
The Orissa Sponge Iron and Steel Limited, located at Palashpanda in Keonjhar district, has stopped production since October 14, 2012. After the breakdown, 400 contracture workers have been removed from the job. Out of 454 regular employees, 247 have either retired or died, the Minister said in response to a question of BJP MLA Mohan Charan Majhi and additional question of other members.
In the meanwhile, the company has repaid its debts to banks through one-time payment scheme. Talks are on with other financial agencies for revival of the firm, informed the Minister.
The other industries that have stopped operation in Keonjhar district are Shree Ganesh Sponge Iron Limited, Deepak Steel and Power Limited, Shree Jagannath Metaliks Ltd and Kusum Powerment Private Limited. The firms have been closed mainly due to reduction in market price of manufactured items, lack of raw material due to closure of mines and weakenin go financial condition of the companies.
Replying to other questions, the Minister too informed that the State Government would soon send proposals to take over the IKIWL with required share.
Among others, Badri Narayan Patra (BJD) put additional questions.