The state industries department and Mahashakti Group signed a memorandum of understanding at the official residence of CM Samrat Choudhary for the establishment of a large integrated steel plant with an initial investment of Rs 6,000 crore in Gaya Ji district.
The production capacity of the proposed ISP is 1.0 to 1.5 million tonnes per annum (MTPA). It is expected that the establishment of the ISP at Gaya Ji would spur the industrial growth of the state.
“The government is trying on a sustained basis to create an industry-friendly atmosphere in the state. The investors are being provided improved infrastructure, transparent policies and quick administrative support, which is attracting the investors,” the CM said on the occasion, adding that ISP would provide direct and indirect employment opportunities to the locals, besides promoting accessory industries and strengthening the regional economy.
He was of the firm belief that proper coordination among Bihar Industrial Area Development Authority (BIADA), industries department and investment board will lead to the actualization of ISP within a timeframe, and it would open a new chapter in the industrial growth of the state.
