Ranchi, Aug 4 (Inditop.com) Steel projects worth Rs.125,940 crore ($26.4 billion) are hanging in the balance in Jharkhand as the state government is yet to give approvals to them, an industry lobby report said Tuesday.
The report by the Associated Chambers of Commerce and Industry (Assocham), said: “Steel players like ArcelorMittal, Tata Steel and others are waiting for different forms of clearances for the last four years, which otherwise should have been cleared in two years.”
Releasing the report at a seminar here, Assocham secretary general D.S. Rawat said the state government should streamline its clearance procedures and speed up the industrialisation drive.
“If the pending steel projects are executed, then it will create about one lakh (100,000) direct and indirect jobs in the state,” he said.
The study also urged the government to come up with a “clear cut land acquisition policy”.
“The industries are willing to provide lucrative compensation and employment to the displaced people. With government’s help land acquisition process could be started,” it said.
On the mining and mineral sector, the industry lobby said the state and the central governments should work together implement mining projects on a fast-track.
The report further said the royalty rates of all minerals needed to be revised.
The mineral rich state has long been demanding an increased share of mineral royalty.
