Economy of Bokaro
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Here is written about the Economy of Bokaro.
Steel plants
Bokaro is mostly known for its steel industry. Here is one of the world's, Asia's and India's largest steel plants, named the Bokaro Steel Plant. It was established in 1964. It has its headquarters in Bokaro itself. This plant is now a part of
The Bokaro Steel Plant was established with the collaboration of Soviet Union when the first prime minister of India, Jawaharlal Nehru, desired to establish a steel plant in the region. Bokaro Steel Plant expansion to extend its capacity from 7.5 metric tonnes before 2011. Vedanta Electrosteel Castings Limited - A Kolkata-based water pipe manufacturer acquired 2,500 acres (10 square kilometres) of land 18 kilometres (11 miles) from the city and has erected its 2.2 MTPA steel plant. The company has invested close to Rs 80 Bn (US$1.6 Bn) on this project which was operational from 2010.
It is the second biggest steel manufacturer in Bokaro behind SAIL's Bokaro Steel Plant.[4][5][6][7]
Sundaram Steel located at
The city has presence of Steel Authority of India Ltd., Oil and Natural Gas Corporation, Vedanta amongst others. Steel Authority of India Limited - The economy of the city is primarily depended on the integrated steel plant established by Steel Authority of India.
Oil, fuels, petroleum and gases
Oil and Gas Industry is the second major industry in Bokaro behind its steel industry. It has major presence of oil and gas.
GAIL's Jagadishpur–Haldia–Bokaro-Dhamra Pipeline (JHBDPL), one of the largest gas pipeline projects of India, is expected to be completed in 2020 and will run through the area. In January 2020, Triveni Groups proposed the development of Kaushal Triveni Mega Food Park in nearby Chandankiyari.
Railway
A rail wheel factory is also under development near Damoderpur village, about 35 kilometres from Bokaro, in a joint venture with Indian Railways and Government of Jharkhand.
Cement
Cement Industry is the third biggest and largest industry in Bokaro Steel City behind steel industry and oil industry. Here is the Dalmia Group's cement factory namely Dalmaia East Cement Bharat Limited (DECBL). Its cement plant is at Balidih. Dalmia Group is an Indian grouping many other companies one such part is Dalmaia East Cement Bharat Ltd. Another cement factory in the whole city is JP Cement which nearer to Dalmia Cement and this cement plant itself located at Marafari, Bokaro Steel City. JP Cement is another second largest plant of cement in Bokaro behind Dalmia East Cement Bharat Limited. Both the cement factory are large cement factories.[9][10]
Crops and agriculture
Once a small grain trading hub of the region,
Food processing
Bihar State Milk Co-operative Federation has a processing plant at Sector - 12. It is another major player in the local economy. It is an economic part of the Bokaro's twin city and a major suburb Chas.
In January 2020, Triveni Groups proposed the development of Kaushal Triveni Mega Food Park in nearby Chandankiyari. Here is also floor mills such as Kamal Flour Mills etc.
Chemical
RMP is a chemical manufacturer. It is located in Bokaro Steel City at the area of Marafari. It is [11] one of the Chemical manufacturers in the whole city. It is nearer to big companies such as Bokaro Steel Plant and BPSCL Power Plant.
Retail, trade and commerce
The Bokaro Mall in Sector 3 is the shopping mall of the city along with Harsh Vardhan Plaza and
The city center is the prominent central business district of Bokaro Steel City and one of the most developed and planned CBD in Jharkhand and Eastern India Recent years have seen it grow more than threefold in size. The difference of this market and most other major markets in Indian cities happens to be the planning of the market. There is ample parking space, and the approach roads, as well as those inside the market are wide. The place houses almost all major Indian banks, has various shops in the city for clothing, electronics, and the best food joints. It used to be home for the only cinema theaters in the city, but only two of them (Jeetendra and Pali Plaza) is operational now. The latest comers to the market are coaching institutes, small clinics, and hospitals. Their rate of growth shows the demand these services have in the city.
Wholesale
Chas is especially well known for its wholesale markets. As such, the city is home to many small and medium-sized businesses, which are overseen by apex trade associations, like the Bokaro Chamber of Commerce and Industries, Jainamore Chamber of Commerce and Jharkhand Small Tiny Service Business Enterprises Association. In recent years, Chas has also had an influx of retail and supermarket chains (like V-Mart, Citi Style, etc.) and vehicle showrooms of KTM, Honda, Hero, Maruti Suzuki, JCB, Yamaha, TVS, Mahindra.
Utilities
BPSCL Power Plant is a power plant in Bokaro Steel City. This is a coal-based thermal power plant located in Bokaro district. The power plant is owned by Bokaro Power Supply Company Limited, a joint venture between Steel Authority of India and Damodar Valley Corporation. It supplies power and process steam to Bokaro Steel Plant and surplus power to grid.
Future projects
|SAIL-POSCO JV Steel Plant: Steel minister Sri Virbhadra Singh has announced another new steel plant for Bokaro as part of a joint venture with Posco and SAIL by using FINEX technologies for high quality steel. The capacity of the plant will be 1.5 mt, establish in BSP periphery of 500 acres (2.0 km2) will be built in Bokaro.
Bharat Petroleum Corporation Limited - BPCL will set up a LPG bottling plant and POL (petroleum, oil and lubricants) terminal in Bokaro, the foundation stone of which was laid on 11 August 2019 at Marafari in Bokaro.
Markets and business districts
The main central business districts of the city are:
- City Centre, Bokaro
- Sector 4 (Bokaro)
- Chas
Economic zones and areas of Bokaro
Sector 4
- Sector 4 is the main commercial area of the city. It is nearer to Marafari. Sector 4 has many shopping complexes around it. Here is also temple Jagannath Temple and Jama Masjid at Sector 4. This place is nearer to Marafari. Some parts of Bokaro Steel Plant came under Sector 4 itself. Here is many schools in this area. One of them being DAV Public School. It also has other branches also. Chinmaya Vidyalayas are other schools. It has branches in other cities like Hyderabadetc.
City Centre
- City Centre is the main Central Business District of the city. Here is also banks, shopping complexes, playgrounds, etc.
Marafari
- Marafariis the main industrial hub and area of the city, here are the companies of Bokaro Steel City.
These companies include
- Bokaro Steel Plant
- Steel Authority of India (SAIL)
- Dalmia East Cement Bharat Ltd
- JP Cement
- Vedanta Electrosteel Castings Ltd
- BPSCL Power Plant
Balidih
- Balidih is one of the major neighbourhoods of the city. It is one of the major industrial hubs of Bokaro along with Marafari. Here is the Holy Cross School located at this area. Here is the tourist spot known as Garga Dam.[12]
Chas
- neighbourhood of Bokaro. It has a developed economy. It has a history during World War II and its economic history also. Chas is especially well known for its wholesale markets. As such, the city is home to many small and medium-sized businesses, which are overseen by apex trade associations, like the Bokaro Chamber of Commerce and Industries, Jainamore Chamber of Commerce and Jharkhand Small Tiny Service Business Enterprises Association. In recent years, Chas has also had an influx of retail and supermarket chains (like V-Mart, Citi Style, etc.) and vehicle showrooms of KTM, Honda, Hero, Maruti Suzuki, JCB, Yamaha, TVS, Mahindra.
Balidih Industrial Area
- A special economic zone in the city at Balidih.
See also
- Jamshedpur
- Economy of Jharkhand State
- Economy of Jamshedpur
- Economy of Deoghar
References
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- ^ "Stocks in news: Wipro, NMDC, Pfizer, Infosys, YES Bank, ONGC". www.businesstoday.in. Retrieved 2020-11-11.
- ^ "ONGC puts mature oil, gas fields on block". Moneycontrol. Retrieved 2020-11-11.
- ^ "Future Scope of Ductile Iron Pipe and Valve Market Expects to See Significant Growth During 2020-2026". Retrieved 2020-11-11.
- ^ "Bokaro Steel plant to work with IDTR Jamshedpur". Retrieved 2020-11-11.
- ^ "Bokaro: BSL introduces shorter working period scheme for employees' welfare". The Times of India. November 8, 2020. Retrieved 2020-11-11.
- ^ "SAIL launches 'Shorter Working Period' Scheme". The Pioneer. Retrieved 2020-11-11.
- ^ "ONGC wins 7 oil blocks, OIL 4 in latest bid round". The Financial Express. 2020-10-22. Retrieved 2020-11-11.
- ^ Bagchi, Sohini (2020-11-09). "Dalmia Bharat Takes a Huge Leap in Its Digital Journey". CXOToday.com. Retrieved 2020-11-11.
- ^ "Dalmia Bharat plans to invest ₹2,000 crore for setting up cement plant in Kalaburgi". @businessline. Retrieved 2020-11-11.
- ^ "Global Steel Rebar Market (2020-2026) With Top Growing Companies – Mechel, Essar Steel, ArcelorMittal, SAIL, Gerdau, NSSMC, Posco-ssvina". re:Jerusalem. Retrieved 2020-11-11.
- ^ "Workers Struggles: Asia, Australia and the Pacific". World Socialist Web Site. Retrieved 2020-11-04.