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Home > Business > Business Headline > Report

Mittal projects on the fast track

Ishita Ayan Dutt in Kolkata | June 18, 2007 12:05 IST

Mittal Steel has put both its projects -- Jharkhand and Orissa -- on the fast track. In Jharkhand, the company is hopeful of starting work as soon as the mines issue is resolved, while in Orissa, consultants for the detailed project report (DPR) and the socio-economic survey have been appointed.

Recently, Arcelor Mittal's group mining head, M P Singh, met Jharkhand Chief Minister Madhu Koda on the mines issue.

Sanak Mishra, chief executive officer, Mittal Steel India, said, "We wanted to convey to the state government that we are serious about the Jharkhand project."

With an out-of-court settlement between Steel Authority of India (SAIL [Get Quote]) and the Jharkhand government on the Chiria lease now imminent, Mittal Steel appears to be hopeful that the issue would be resolved. Mishra said, "We are committed to the project and Chiria is the main thing in the picture."

Mittal Steel's iron ore requirement for the 12 million tonnes Jharkhand plant is 600 million tonnes. According to Mishra, the main source for this would have to be Chiria. However, if the state government wanted to fill any deficit from any other source, it would be acceptable to Mittal Steel.

The company has already selected the site for the project and would announce it once the Jharkhand government's rehabilitation and resettlement (R&R) policy was notified.

The pre-DPR study for the Jharkhand project is complete and the company is ready to start on the project as soon as the mines issue is resolved.

Along with the Jharkhand project, Mittal Steel has also made progress in the Orissa project. Mittal Steel has appointed Dastur and Company for the DPR, which entails the steel plant, the 750 mw captive power plant, the township and environment planning. Mishra said it would take a year to complete the DPR.

For the socio-economic survey, the company has appointed Eco Smart and the report would be submitted in six months' time. Eco Smart would also prepare the R&R package for the land-losers. Mishra said the company would take the Orissa government's R&R policy as a guideline for the package.

Mittal Steel would require around 8,000 acres for the 12 million tonnes project in Keonjhar. Of the 8,000 acres, 1,000 acres would be required for the power plant and another 1,000 acres for the township.

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