Wed, 12 Aug 2009 15:03:33 GMT

Karnataka government plans 300-km 'steel corridor'

Chennai: The Karnataka government is planning to develop a 300-km ‘steel corridor’, which they hope will attract investment worth Rs 20,000 crore from the steel majors. As part of the development, the idea is for a nuclear power plant, a port and high-speed train connectivity.


Chennai: The Karnataka government is planning to develop a 300-km ‘steel corridor’, which they hope will attract investment worth Rs 20,000 crore from the steel majors. As part of the development, the idea is for a nuclear power plant, a port and high-speed train connectivity.

The corridor is planned around the iron ore-rich Bellary-Hospet area in eastern Karnataka. Speaking to Business Standard at the sidelines of CII’s Suminfra 2009 meet, V Madhu, principal secretary, infrastructure development, said the state wanted to move from just exporting ore to value-added production of steel.

Minng and steel majors have been spoken to — NMDC, Tata Steel, JSW, Brahmani, to name some — and all have shown a lot of interest. The idea is that each steel manufacturer could erect a manufacturing unit of at least two million tonnes. Infrastructure development is on — new roads, identifiication of 500 sq km of land for an industrial park (tender for development to be floated in two months) and so forth. Work is already on for a 120 km rail link between Hubli and Ankola in the region, which ties in with the plan.

The industrial park, it is hoped, will attract Rs 20,000 crore of investment, with creation of jobs, direct and indirect, to be around two lakh.There wil also be a township.

Madhu says the government also wants a nuclear power unit in the corridor. “We met the Chairman of the Atomic Energy Commission, and gave our recommendation to set up a nuclear plant at Tadri.” The government is also promoting a port at Tadri, on the western coast.

Business Standard

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