'Steel processing unit to be operational soon in HP'

A steel processing unit, which involves an investment of Rs 76 crore, in Himachal Pradesh will be operationalised in few months, Steel Minister Chaudhary Birender Singh said on Saturday.

"The SPU project in Kangra in Himachal Pradesh ... will be operationalised within the next couple of months. This involves an investment of around Rs 76 crore," Singh was quoted as saying in an official release.

He was addressing a press conference at Dharamsala, Himachal Pradesh, on achievements of the NDA government during three years. The unit will produce value-added products like TMT bars approximately 1 lakh tonne per annum, he said.

"Steel industry needs to go for value-added steel in order to improve competitiveness globally. For example SAIL and ArcelorMittal would soon formalise a joint Venture for production of automotive-grade steel. This will be a big step-forward under the Prime Minister's Make in India Programme," the minister added.

The minister also announced the institution of Best Steel Structures Awards in PMAY (Rural and Urban), building projects, and roads made with steel reinforced cement concrete and other extraordinary structures using steel in abundance.Steel consumption will get a big boost due to these initiatives.