The Karnataka government has completed land acquisition for an integrated project of Tata Steel and Tata Metaliks, to be set up at Haveri district, a company official said today.
''The Karnataka government has acquired 2,500 acres at Haveri for the integrated plant of Tata Steel and Tata Metaliks,'' vice-president Partha Sengupta said on the sidelines of the Global Investors' Meet 2012 in Bangalore.
The land acquisition was carried out entirely by the Karnataka government and the company will pay compensation to landowners, Sengupta said, adding that work on the 3 million-tonne steel plant will start in two year's time.
The Global Investors' Meet 2012 roadshow is organised jointly by the industry and tourism ministries of Karnataka.
While iron ore will come locally from mines in Karnataka and Goa, Sengupta said, coal for the plant would have to be imported.
Tata Metaliks produces pig iron of global quality of low sulphur and low phosphorus grades that are used for specialised applications such as pressure tight precision castings, automobile engine blocks, crankshafts, gears, rolling mill rolls, motor and generator housings, railway and machine tools.