The preliminary initiative to establish a special economic zone (SEZ) for stainless steel on the premises of the Salem Steel Plant has begun and Steel Authority of India Ltd (SAIL) has almost finalised a financial and leasing firm for the purpose. The report cites Mr PM Balasubramanian executive director of Salem Steel Plant as saying that “SAIL has already set the ball rolling towards this. A few leading players both from the country and abroad have expressed their willingness to pitch their tents. Clearance from the union ministry of industry and commerce is awaited.” Mr Balasubramanian said that the formation of SEZ on the surplus land will not hurt the INR 1553 crore expansion project of SSP.
