World's biggest steelmaker ArcelorMittal has identified the land for its mega 12 million tonne steel project in Jharkhand and will apply for necessary approvals soon to acquire the same.

"We have selected the land in Jharkhand and will apply for necessary approvals soon for land acquisition," Chief ArcelorMittal India Executive Officer Sanak Mishra told PTI.

He said his company's proposed projects in both Jharkhand and Orissa were progressing fast. Torpa-Kamdara site has been selected for the project in Jharkhand, he said adding "We will be shortly going for the Detailed Project Report," he said.

Mishra said his company has received provisional nod from the Orissa government to acquire 7,500 acres of land at Keonjhar, of which 6,000 acres would be used to put up a 12 MT steel plant, 1,000 acres for setting up the 1,500 MW power plant and the remaining for developing a township.

ArcelorMittal had signed a Memorandum of Understanding with the Orissa Government on December 21, 2006 to put up the plant. The company has already got a draft resettlement and rehabilitation plan ready and is discussing with the state Government, he said.

Meanwhile, along with four others, the government has allocated two thermal coal blocks in Jharkhand and Orissa to ArcelorMittal India. The company intends to use it to fire the 1,500 MW power plant.

ArcelorMittal plans to invest at least USD 20 billion in the two projects, which would be build up in two equal phases. Mishra said first phase of these projects of 6 MT capacities would be completed within 48 months of preparation of the DPR.

The Mittal Steel-Arcelor saga