New Delhi: ArcelorMittal, whose steel projects in Orissa and Jharkhand are in limbo for many years now, on Thursday received a red-carpet welcome from Karnataka which cleared a Rs 30,000 crore proposal for an integrated steel plant by the world's largest maker of the alloy.
The inordinate delay in land acquisition and tardy progress in clearing files at bureaucratic level has upset the chairman of Arcelor-Mittal Lakshmi Niwas Mittal. Talking to a private news channel, Mittal hinted that he was up upset over the inordinate delay in the progress of his proposed project in Odisha.
Karnataka has cleared projects involving a mega investment of Rs 1.38 lakh crore, including Rs 62,300 crore from steel giants ArcelorMittal and Posco, Chief Minister Y S Yeddyurappa said here on Thursday.
In what appears to be an undisguised means to woo global steel magnate ArcelorMittal chairman Laxmi N Mittal, the Karnataka Government has notified 300 hectares of mining area in Bellary district.
NEW DELHI: Steel magnate Lakshmi N. Mittal on Thursday ruled out his exit from the proposed Rs. 1-lakh crore steel projects in Jharkhand and Orissa despite facing problems in acquiring land and delays in securing regulatory approvals.
Two steel giants, ArcelorMittal and POSCO, were granted the green signal on Tuesday, with the High Level Clearance Committee headed by Chief Minister B S Yeddyurappa according an in-principle approval for implementing their mega steel manufacturing projects.
