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The Indian Stainless Steel Development Organisation (ISDO) has signed two Memorandums of Understanding (MoU) with the Gujarat government, one each for a permanent exhibition park and an industrial park.
While the permanent exhibition park will also have R&D and innovation centres and will allow industry players to showcase various kinds of stainless steel products, the industrial park will act as a cluster and attract investment from stainless steel makers. While the project cost for both parks is estimated to be around Rs 320-400 crore, the industrial park is expected to generate business worth Rs 3000-4000 crore, once commissioned.
The industry body is also organising one of the biggest integrated stainless steel exhibition 'INDINOX 2015' between January 24 and January 27, 2015 at Mahatma Mandir in Gandhinagar.
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According to Kushal Bhansali, chief convener of ISDO Exhibition, the B2B expo will have more than 1,000 stalls, which would include 50 international exhibitors and participants. Country pavilions include China, Germany, Italy and South East Asia. The fair will exhibit raw materials, household steel, hardware, allied products, machinery, precision tools, investment casting, technology, fabrication etc. More than 100,000 trade visitors are expected to visit the expo.
Bhansali stated that while land for the industrial park has been zeroed in around Sanand, that for the exhibition park is still being scouted. "Around 40-50 companies have evinced interest for setting up unit in the industrial park, of which 50 per cent are from Gujarat. The park is likely to be commissioned in next two years," Bhansali added.
Meanwhile, INDINOX 2015 is being organised by Indian Stainless Steel Development Organisation (ISDO) and supported by the state government, ISSDA, SAIL, Gujarat Chamber of Commerce & Industry, Ministry of Micro-Small & Medium Enterprises (MSME), Indian Railway, Metal and Stainless Steel Merchants Association, iNDEXTb and Steel Market Info, among others.
According to ISDO, there is tremendous scope of growth in India for the industry, since stainless steel per capita consumption in India is merely 1.6 kg whereas it varies from 6 kg to 12 kg in developed countries.
