Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article


Home > Business > PTI > Report


Arcelor-Mittal zeroes in on fifth Orissa site

September 25, 2006 19:58 IST

Arcelor-Mittal added one more site on Monday -- Chiplima in Sambalpur district -- to the four it is currently surveying for its proposed 12 million tonne steel facility in Orissa.

A four-member team led by company's India operation chief Sanak Mishra made a presentation about their initial study on the five sites on Monday before Chief Minister Naveen Patnaik at the state secretariat in Bhubaneswar, Orissa Steel and Mines Minister Padmanabha Behera told reporters. 

Initially the company had entrusted MECON to study four sites and suggest a suitable location for its mega greenfield project.

Arcelor-Mittal had evinced interest in Somnathpur -- Balgopalpur in Balasore district, Basudebpur in Bhadrak district, Khallikote in Ganjam district and Patna in iron ore rich Keonjhar district, he said.

''We have told the delegation that the company must choose a site where there would be minimum displacement. Of late, we are facing all sorts of problems due to displacement,'' Behera said.

Arcelor-Mitta had informed that a suitable site would be selected for the project by October 30, he said.

Mittal Steel had in July announced that the company would set up a 12 million tonne steel project with an approximate investment Rs 30,000 crore (Rs 300 billion) to Rs 40,000 crore (Rs 400 billion).

Subsequently, the state government had set up a task force under the chairmanship of Chief Secretary Subash Pani to iron out hindrances on the way of the project.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group



© Copyright 2006 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments


Advertisement






Copyright © 2006 Rediff.com India Limited. All Rights Reserved.