Ministry of Steel urges CPSEs to raise capex, streamline project ops

Minister of Steel Ram Chandra Prasad Singh has urged Central Public Sector Enterprises (CPSEs) to raise their capital expenditure and streamline the procedure for timely completion of the projects.

A CPSEs meeting for capex review with the Steel Authority of India Limited (SAIL), National Mineral Development Co (NMDC), Manganese Ore India Limited (MOIL), Rashtriya Ispat Nigam Limited (RINL), and Kudremukh Iron Ore Co Limited (KIOCL), the Steel Minister stressed on capital expenditure in building steel infrastructure to push sustainable growth post-pandemic.

According to a statement, during a detailed review of the project, the Ministry emphasised capital expenditure in building steel infrastructure for sustainable growth after the Covid-19 pandemic.

The Ministry also looked into the matter of land issue of Integrated steel plants of SAIL and CPSEs. He also reviewed the related land issues with Steel CPSEs, including land availability for future projects, plant expansion, land under encroachment, leasehold or freehold status, land use, etc.

He suggested Steel CPSEs expedite action to remove encroachments so that the company can utilise the land and the quarters.

He further suggested ensuring that the unmutated land in their plants is getting transformed to mutated land in the name of CPSE, in consultation with the relevant department under the state governments.

The minister also emphasised that steel CPSEs must digitalise their land records and keep them safe. He mentioned the importance of judicious use of CPSEs land in future.

Minister of Steel, State Minister Faggan Singh Kulaste, Steel Secretary Pradip Kumar Tripathi were also present in the meeting along with the Chief Managing Director of all the SAIL CPSE.

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