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Steel Minister directs CPSEs to step up their capex

Our Bureau New Delhi | Updated on September 14, 2021

Steel Minister, Ram Chandra Prasad Singh   -  Businessline

Also asks them to streamline the processes for timely completion of projects

Steel Minister Ram Chandra Prasad Singh has directed steel CPSEs to step up the pace of their capital expenditure (CAPEX) and streamline the processes for timely completion of projects, the Steel Ministry said in a statement.

In a CAPEX review meeting held with the steel CPSEs - Steel Authority of India Ltd. (SAIL), National Mineral Development Ltd. (NMDC), Rashtriya Ispat Nigam Ltd. (RINL), Kudremukh Iron Ore Company Ltd. (KIOCL) and Manganese Ore (India) Ltd. (MOIL), the Minister emphasised the importance of capital expenditure in building steel infrastructure to spur high and sustainable growth in the post-pandemic period.

"During the detailed review of projects under implementation, the Union Minister emphasised the importance of capital expenditure in building steel infrastructure to spur high and sustainable growth in the post pandemic period," the release said.

Meanwhile, the Minister also reviewed the land issues of Integrated Steel Plants of SAIL and other Steel CPSEs. The Minister examined various issues related to the land available with the Steel CPSEs. These included land available for future projects/expansion of plants and mines, land under encroachment, freehold or leasehold status, land use etc.

The Minister asked the Steel CPSEs to expedite action to remove encroachments so that the Steel CPSEs could gainfully utilise the land and the quarters.

"He further asked them to ensure that the unmutated land in the plants is urgently converted to mutated in the name of the CPSE, in consultation with the concerned Departments of the State Governments.

Singh emphasised that all land records of the Steel CPSEs must be digitalised and kept in safe custody. He highlighted the significance of judicious use of all land available with the CPSEs for future needs.

In the meeting, Minister of State for Steel, Faggan Singh Kulaste, Minister of State, Pradip Kumar Tripathi Secretary Steel were also present besides the Chief Managing Directors (CMDs) of all the SAIL CPSEs.

 

Published on September 14, 2021

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