Bhubaneswar, Jun 8 (IANS): Union Steel Minister Dharmendra Pradhan said on Saturday that the Centre in cooperation with the state government will try to develop Odisha as a global hub of ancillary industry in the steel sector.

Pradhan said the youth will benefit from the endeavour.

India is the second largest steel producing nation in the world while Odisha is the hub of steel industry in the country and the state can play an important role in the world steel sector, he said.

Pradhan, who is also the Petroleum and Natural Gas Minister, reviewed the post-Fani situation in Puri along with Pratap Sarangi, Union Minister of State for MSME, Fisheries and Animal Resources.

Pradhan and Sarangi visited the state for the first time after becoming Union Ministers in the second term of the Narendra Modi-led NDA government.

"There has been good progress in restoration and around 30 per cent hotels are currently functional. Loan restructuring for the hotel industry has been initiated as per the RBI guidelines," Pradhan said.

He also suggested that banks should expedite loan processing and restoration of ATMs and point of sales (POS) devices before the upcoming Rath Yatra festival scheduled to be held in the first week of July.

Pradhan urged insurance providers to consider the request of hotel association members for around 30 per cent interim payment.

He also suggested the banks to conduct a one-day brainstorming with all stakeholders to develop a blueprint for the economic revival of the affected areas by leveraging the power of MUDRA loans and the expertise of FINTECH agencies.