Unperturbed by its rival Posco's joint venture with state-run Steel Authority of India (SAIL), the world's number one steel maker, ArcelorMittal, today said it too was in talks with the public sector company but that it was not in a race.
STUNG by inordinate delays in getting greenfield projects off the ground, global steel majors Posco and ArcelorMittal appear to be shifting gears in their India strategy.
A 0.6 MTPA wire rod mill set up by Jindal Steel and Power Limited (JSPL) will be inaugurated by Union steel minister Virbhadra Singh at Patratu on April 24, making it the first steel plant to come up in Jharkhand in the last six years that has seen 50 other steel majors sign MoUs with the state.
The government is considering a proposal to make it mandatory for companies like Vedanta Resources and ArcelorMittal to offer shares to those displaced by their future mining projects. But the move is being opposed by the industry.
Expressing serious concern that in the absence of any regulatory legal mechanism, very few Memoranda of Understanding (MoUs) signed by steel companies with mineral-rich states were translating on the ground, the high-level Inter-Ministerial Group has pitched for
The deadliest attack on Indian security forces in four decades of left-wing conflict underscores the challenge companies including ArcelorMittal, Posco and NMDC Ltd face in investing in mineral-rich states.
Stung by the holding up of large steel and iron ore projects by the states and various central agencies, the Union steel ministry has proposed the creation of an empowered national regulator that can single-handedly decide on these projects
Ranchi, April 5: ArcelorMittal has been granted another iron ore mining lease in Jharkhand where the company has proposed to invest over Rs 40,000 crore for setting up a Greenfield steel project.
The central government today said it had granted a licence to ArcelorMittal for prospecting iron ore in the Karampada region of Jharkhand, a move that would boost the steel giant
