New Delhi/Kolkata: Mahratna steel PSU, Steel Authority of India Limited (SAIL), has kick-started it's participation in "Purvodaya" program through a special incentive scheme to boost industrial setup around its steel plant and achieve holistic socio-economic development. Named "Ispaati Ilakon ka Vikas: SAIL ke Sath," the scheme aims to encourage steel-based clusters by offering special pricing, special commercial terms, the ready availability of input, easy financing support and technical know-how to local MSMEs. With a presence in each state under Purvodaya, this scheme will be available to MSMEs in the areas where Bhilai, Rourkela, Bokaro, Durgapur and Burnpur steel plants of SAIL are based.

"These schemes will go a long way in boosting economic activity in the Purvodaya states and provide these natural resource-rich states with the ideal framework for achieving socio-economic development:" Dharmendra Pradhan

Launching the scheme during the Purvodaya summit organised by CII in Kolkata on Saturday, Union Minister of Steel Dharmendra Pradhan said, "These schemes will go a long way in boosting economic activity in the Purvodaya states and provide these natural resource-rich states with the ideal framework for achieving socio-economic development."

Speaking on the occasion, SAIL's Chairman Anil Kumar Chaudhary said, "The legacy of SAIL in building the Nation will continue with this initiative." He invited the entrepreneurs to take part in the scheme and help SAIL in creating all-round development in the Steel areas with Ispati-Irada.

The proposed integrated steel hub, encompassing Odisha, Jharkhand, Chhattisgarh, West Bengal and Northern Andhra Pradesh, would serve as a torchbearer for socio-economic growth of eastern India.
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The objective of this hub would be to enable swift capacity addition and improve the overall competitiveness of steel producers both in terms of cost and quality.