https://sputnikglobe.com/20211025/kashmir-to-witness-first-ever-steel-plant-as-modi-govt-pushes-for-development-in-violence-hit-1090192168.html
Kashmir to Witness First Ever Steel Plant as Modi Govt Pushes for Development in Violence Hit Valley
Kashmir to Witness First Ever Steel Plant as Modi Govt Pushes for Development in Violence Hit Valley
Sputnik International
In January, the Indian government launched a $3.8 billion incentive program to attract investment into the federally-controlled territory of Jammu and Kashmir... 25.10.2021, Sputnik International
2021-10-25T19:02+0000
2021-10-25T19:02+0000
2022-08-06T14:40+0000
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India's steel conglomerate JSW Steel has announced a $20 million investment in Kashmir, bringing the region's first steel plant in coming months. The announcement is the second significant investment in the valley in October, a month marred with persistent attacks on non-local civilians.The "state of the art color-coated steel" plant will have an annual capacity of 120,000 metric tonnes and lines to make steel sandwich panel and steel doors to cater to the Kashmir market.Indian Home Minister Amit Shah distributed the land allotment papers to JSW Steel in Srinagar on Monday. He said that the land had been allotted for an investment of $684 million in Kashmir since the change in land rights law last year. The government aims to bring around $7 billion investment in Kashmir before 2022. Last week, Dubai signed an accord with the Indian government to build a hospital, IT parks, and other infrastructure in Kashmir. The Himalayan region is primarily dependent on farming, handicrafts, and tourism.The government scrapped Article 370 of the Indian Constitution in August 2019, ending the special status for Kashmir, which was the main feature for its accession to India in 1947.
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kashmir, narendra modi, investment, steel industry, amit shah
kashmir, narendra modi, investment, steel industry, amit shah
Kashmir to Witness First Ever Steel Plant as Modi Govt Pushes for Development in Violence Hit Valley
19:02 GMT 25.10.2021 (Updated: 14:40 GMT 06.08.2022) In January, the Indian government launched a $3.8 billion incentive program to attract investment into the federally-controlled territory of Jammu and Kashmir. New Delhi emphasized that the rise in terror incidents will not deter it from bringing capital to Kashmir.
India's steel conglomerate JSW Steel has announced a $20 million investment in Kashmir, bringing the region's first steel plant in coming months.
The announcement is the second
significant investment in the valley in October, a month marred with persistent attacks on non-local civilians.
The "state of the art color-coated steel" plant will have an annual capacity of 120,000 metric tonnes and lines to make steel sandwich panel and steel doors to cater to the Kashmir market.
"This facility shall provide immense benefits to local businesses and society in a meaningful way and provide employment opportunities to the local youth," Sajjan Jindal, chairman, JSW Group, said on Monday.
Indian Home Minister Amit Shah distributed the land allotment papers to JSW Steel in Srinagar on Monday. He said that the land had been allotted for an investment of $684 million in Kashmir since the change in land rights law last year.
19 February 2021, 13:05 GMT
Last week, Dubai signed an accord with the Indian government to build a hospital, IT parks, and other infrastructure in Kashmir.
The Himalayan region is primarily dependent on farming, handicrafts, and tourism.
The government scrapped Article 370 of the Indian Constitution in August 2019, ending the special status for Kashmir, which was the main feature for its accession to India in 1947.
