Published On : Fri, Nov 25th, 2022

36 steel industries shut down in Nagpur, CAMIT President tells us why

Nagpur: Several industries have ditched their plans of setting up their units in Maharashtra and have shifted their focus on other states.

Some blame the instability of the Eknath Shinde-Devendra Fadnavis government, while some claim lack of resources in the state. However, the state’s second capital, which is considered to be the fastest growing cities in India, too, have been losing projects.

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While new projects are still choosing bigger cities, the existing projects in Nagpur are not able to survive. In the latest, as per a report, 36 steel industries in and around Nagpur have shut down due to high cost of resources– especially electricity.

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The steel industry owners have started to shift their plants to neighbouring states like Chhattisgarh and Madhya Pradesh where the cost of electricity is comparatively lesser. They also claim that there has been no subsidy given by the state government for the electricity.

Chairman of Associations of Maharashtra Trade and Industry, Dipen Agrawal told Nagpur Today that these steel industries are an intensive power-consuming industry and the prices of power matter a lot here. He also further appealed to the state government to subsidise the rates for the electricity for the industry owners in the area. Watch full video here:

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