The world''s number one steel company Arcelor Mittal
will sign a memorandum of understanding (MoU) with the
Orissa government for setting up a 12 million-tonne steel
plant in the state''s Keonjhar district.
high-level clearance authority (HLCA) headed by chief
minister Naveen Patnaik has cleared the Rs40,000 crore
project, which would be completed in two phases of six
million tonnes each.
joint working group, comprising officials of Mittal Steel
India Ltd and the state government, gave final shape to
the project proposal.
project, proposed to be set up in the tribal-dominated
Patna tehsil of Keonjhar district, needs 8,000 acres of
land and would draw water from the Baitarani river.
Arcelor Mittal project compares in size with as South
Korean steel major Posco''s proposed plant near Paradip.
company would invest Rs22,000 crore in the first phase
for building six million tonne steel capacity and a 750
MW captive power plant.
HLCA also cleared the Ruchi group''s proposal for a three
million-tonne steel project, involving investment of Rs7,500
crore and the UK-based Stemcor group''s proposal for a
Rs1,500 crore pelletisation plant.
projects were earlier cleared by the state level single
clearance authority (SLSWCA) headed by the chief secretary.
Mittal, owned by L N Mittal, is the world''s number one
steel company, with 330000 employees in more than 60 countries.