MoU for Ultra Mega Steel Project signed in presence of PM

By Sarkaritel May 11, 2015 09:59

An MoU was signed for setting up an Ultra Mega Steel Project (UMSP) in District Bastar, Chhattisgarh in presence of Prime Minister, Narendra Modi between Steel Authority of India Limited and Government of Chattisgarh. Minister of Steel & Mines, Narendra Singh Tomar, Chief Minister of Chhattisgarh, Dr. Raman Singh, Minister of State for Steel and Mines, Vishnu Deo Sai and Secretary Steel, Rakesh Singh were present on the occasion.

The MoU was signed by C.S. Verma, Chairman, SAIL, Joint Secretary, Ministry of Steel, Govt. of India, Sayedain Abbasi, Secretary Commerce & Industries, Govt. of Chhattisgarh S.K. Singh. Other senior PSU officials and high ranking officials from State Administration and Government of India were also present

SAIL has taken the lead to take forward the Make in India campaign of the new government under the leadership of Prime Minister Narendra Modi. A Special Purpose Vehicle (SPV) has been formed by SAIL, which along with another PSU, which would take up the project development activities in Bastar district, in the State of Chhattisgarh, for setting up of a green-field steel plant of around 6 MTPA capacity in two phases. The total investment is likely to be in excess of Rs.20,000 crore in the first phase. Setting up of the steel plant would generate direct & indirect employment and would result in socio-economic development of the region.