With Rs. 1.1 lakh-cr line-up, metallurgical sector tops in project commitments.

The metallurgical sector attracted the maximum investment commitment out of 38 sectors tracked by the Department of Industrial Policy and Promotion (DIPP) in January-October, 2013, with projects worth Rs. 1.1 lakh crore lined up under industrial entrepreneur memorandums signed between industrialists and various State Governments.

This amounted to nearly a quarter of the total commitments of Rs. 4.7 lakh crore that came in during the period. Among the projects cleared was Uttam Galva Metallics 50,000-tonnes-per-annum galvanized steel and products unit and a separate 1 lakh tonnes per annum cold-rolled and hot-rolled steel and products plant at Wardha, Maharashtra; Motherson Sintermetal Technology's 5,000 tonnes per annum power metal components factory in Puducherry; Apple Industry's 50,000-tonnes-per-annum sponge iron plant at Noida, Uttar Pradesh; Manaksia Ltd.'s coated metal plant at Kutch, Gujarat; and Bhushan Power & Steel's proposed steel processing unit at Daridabad, Haryana. The proposed investment will come through 217 projects, which was equivalent to 10.6 per cent of the total number of projects for which IEMs were signed.

HBL