ArcelorMittal says 'some progress' in Karnataka steel plant

Mittal

ArcelorMittal today said it has been able to make some inroads for its proposed Rs 30,000 crore Karnataka steel project with the acquisition of a major part of the required land, but rued that the progress has been slow.

"There is some progress in terms of getting land, etc, a lot of approvals are needed but progress is slow," L N Mittal, Chairman, ArcelorMittal, told reporters here.

The world's largest steel maker requires 2,800 acres of land for its six million tonnes per annum (mtpa) steel plant in the southern state. However, so far it has acquired around 1,800 acres.

The company had in its latest annual report said it has completed all necessary steps to acquire the land and was expecting to get the remaining 972 acres by May this year.

"A draft feasibility report for the contemplated steel plant is currently being prepared, and hydrological and environmental impact assessment studies have been initiated," it added.

Along side the steel mill in Karnataka, ArcelorMittal has also proposed to build a 750-MW captive power plant.

ArcelorMittal also plans to build two mega steel mills of 12 million tonne (MT) each in Jharkhand and Odisha. However, both of them are yet to see much progress.

For the Jharkhand project, where it intends to set up three million tonne per annum plant in the first phase, the company has sought "adequate land" under the State Government Consent Award Scheme.

It has also initiated the process to renew its MoU with the Odisha government, which had expired last December.

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