Narendra Tomar meets Telegana CM : Discuss plans for a 3 mt steel plant and mine auction.

Union Minister for Steel and Mines Narendra Singh Tomar called on the Chief Minister of Telangana K Chandrashekar Rao in Hyderabad recently. The two leaders discussed the status of the proposed greenfield steel plant in the state among other issues related state's steel and mines sector. The Telegana CM sought support in further expediting the steel plant project which is tipped to boost the state's economy and generate jobs.

Incidentally, Steel Authority of India Limited (SAIL) has prepared a feasibility report and carried out site inspection and market analysis for the proposed plant. Accordingly, recommendations have been made for consideration by the state government and Government of India. These include tax concessions, interest and capex subsidy and recalculation of internal rate of return.

ET