(a) the details of the public and private companies which paricipated in the Steel Research & Technology Mission of India (SRTMI), introduced to encourage and increase investment in Research and Development (R&D) from the current average of 0.15-0.% of annual turnover of industries to the international average of 1-2%;
(b) whether the Minister has achieved the targeted corpus of 200 crores which was determined as the targeted corpus amount under the SRTMI, if so, the details thereof; and
(c) if not, the measure being taken by the Government including the financial incentives being provided to attract greater investment from private companies in the SRTMI? |
| ANSWER |
THE MINISTER OF STATE IN THE MINISTRY OF (SHRI VISHNU DEO SAI)
STEEL AND MINES
(a) The following Indian steel & allied companies in the public & private sector and Ministry of Steel have signed a Memorandum of Agreement for participation and financial contribution in Steel Research & Technology Mission of India:-
• Steel Authority of India Limited
• Rastriya Ispat Nigam Limited
• National Mineral Development Corporation Limited
• Tata Steel Limited
• JSW Steel Limited
• Jindal Steel & Power Limited
• MECON Limited
(b)&(c): In pursuance of the Memorandum of Agreement, all the partners have agreed to create a corpus of Rs.200 crore, wherein the participating companies have committed to contribute an initial entry fee @ Rs.25/tonne of crude steel produced during 2013-14 or Rs.5 crore, whichever is higher, in SRTMI, and Ministry of Steel’s contribution will be Rs.100 crore. |
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