Government today decided to set up a task force soon to explore possibilities of mining and steel ventures in and around Bayyaram mines in the Khammam district of Telengana.
The decision to constitute the task force was taken at a meeting between steel and mines minister Narendra Singh Tomar and Telenagana Chief Minister K Chandrasekhar Rao here.
"Tomar proposes constituting a task force to explore the mining and steel avenues in the state," an official release said. A source in mines ministry said it would be constituted soon. Bayyaram has large reserve of iron ore mines.
It was decided the task force comprising central, state and PSU representatives, would conduct an in-depth study of existing alternatives in a time-bound manner, based on which a decision will be taken.
During the meeting, different mechanisms and permutations were discussed to evolve a plan wherein a major industry, be in mining, steel-making, pellet-making, or a combination of all, could be operationalised efficiently, the release said.
"Whatever can be done, will be done for the people and state of Telangana," Tomar was quoted as saying.
Steel Secretary Rakesh Singh, who was also present in the meeting, said the target of achieving 300 million tonne steel production by 2025 gives enough elbowroom to set up greenfield capacities.
He also suggested that a Special Purpose Vehicle could be initiated for this project, on the lines of those already established in Jharkhand, Karnataka, Odisha and Chhattisgarh.
The Chief Minister expressed eagerness to facilitate such an investment by providing captive mines, discounted land and connectivity with ports. Issues on the return on investment, technology of production and basis for shareholding were also deliberated in detail.
Union labour and employment minister Bandaru Dattatreya was also present in the meeting.
