Saturday, 15 Oct 2011
ET reported that perturbed over delays in getting necessary approvals and land acquisition issues, global steel giant ArcelorMittal is understood to have put its proposed 12 million tonnes steel plant in Orissa on back burner.
According to company sources, no progress has been made by the company in the state in last one and a half years and at the moment the company is focusing more on its plans for setting up steel units in Karnataka and Jharkhand.
Only 8 gram sabhas meetings out of 15 required for land acquisition in Orissa has been conducted till first half of 2010 and the status remains the same, sources said.
In 2006, ArcelorMittal had signed an MoU with the Orissa government to set up a 12 million tonnes per annum steel plant in four phases at Keonjhar, entailing an investment of INR 50,000 crore. The MoU is due for renewal in December 2011.
When asked whether project in Orissa was stalled, the company's India spokesperson declined to comment.
(sourced from ET)
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