Chhattisgarh’s state government has announced special incentive packages for investments in ultra-mega projects of Sponge iron and steel sector, provided those proposed units start production before October 31, 2024.

 

Under the package, investment incentive of maximum Rs5bn (Rs10bn for Bastar) will be valid and region-wise subsidy limit has been increased from 60pc to 150pc for industries of the Sponge iron and steel sector.

 

Financial investment will be provided to the new units that have started commercial production after investing Rs1bn in the permanent capital investment fund.

 

Chhattisgarh’s government has also announced subsidised electricity supply to the industries of core sector including steel industries. This will provide them long term benefit, allowing them to be competitive in the domestic market. 

 

The state also declared that Chhattisgarh produced 2.7mn mt of steel during the lockdown, the highest in the country.

 

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