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India - ArcelorMittal assures Orissa on steel plant plans

With the fate of two big ticket investments POSCO's mega steel plant and Vedanta's refinery expansion projects hanging fire, the world's largest steel maker ArcelorMittal has assured the Orissa government on its commitment to set up INR 40,000 crore mega steel plant.

Mr Raghunath Mohanty steel and mines minister told reporters that "ArcelorMittal will not withdraw from the state under any circumstances.”

The company's commitment was given to the state government by ArcelorMittal's Orissa project chief Mr DS Arora and GM land and company affairs Mr LC Mohapatra to Mr Mohanty.

The officials informed the minister that the company has started corporate social responsibility activities in the area under Patana tehesil in Keonjhar district. The company has so far trained 60 local youths in different trade who were working in different industries

Stating that the project required 7,753 acre for setting up the steel plant and township, the officials have said the land would be acquired from different villages. Notification for land acquisition has been made in seven villages.

ArcelorMittal will set up a 3 million tonne per annum steel plant in Keonjhar district in the first phase and add capacity up to 12 million tonne per annum in other phases. It is, however, yet to submit a detailed project report though it has signed MoU in 2006 to set up the 12 million tonne per annum steel plant.

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