The new Bill on Land Acquisition approved by the Union Cabinet will be a huge setback for industrial growth in Odisha at a time when big ticket investors like Posco and ArcelorMittal are already struggling to procure land for their projects, industry experts said.

According to the new Bill ratified by the Cabinet, industrial projects would need consent of at least 80 per cent of the land losers. "The new Bill will be a huge setback for industrial growth in Odisha. There is already a big noise on land acquisition for projects proposed by Posco and ArcelorMittal. Should the Bill be passed, land acquisition will become all the more difficult for such projects and the projects will be pushed into further delay”, said Ramesh Mahapatra, president, Utkal Chamber of Commerce & Industry (UCCI).

Bhubaneswar: The Orissa government has proposed to lay down a well-defined policy for renewal of MoUs signed with industrial houses.

Jamshedpur The HIsarna iron making technology being developed jointly by a consortium of steelmakers in Europe led by Tata Steel, holds prospects of not only being a major green technology but also promises 25% savings in terms of capital expenditure (capex) and operational expenditure (opex).

The technology, which has steel makers ThyssenKrupp Steel Europe, ArcelorMittal and Salzgitter on board, is based on a cyclone reactor, patented by Tata Steel Europe, for melting iron ore, which combines beneath to a HI-smelt (bath smelter) developed by Rio Tinto in Australia.

A day after it posted its first ever quarterly net loss due to slowdown in China and aweak market in Europe, ArcelorMittal, the world’s largest steel producer has some reason to cheer.

The state is the highest producer of high-quality sized iron ore and fines, with annual output surpassing 75 mn tonnes

Odisha, the largest producer of iron ore in the country, is mulling canalisation of iron ore trade by appointing a designated agency in order to bring in transparency and generate more revenue. The single-point trading process is likely to push iron ore rates and impact margins of steel makers across the country who depend on the state for the raw material supply, as many other major producers, such as Karnataka and Goa, have restricted output.

The company has got the entire 2,700 acres of land near Bellary, Karnataka

ArcelorMittal has finally crossed the biggest hurdle in setting up any project in India -- land. The company has got the entire 2,700 acres of land near Bellary, Karnataka, required for its steel plant from the state government. Bellary is the the rich iron ore district of Karnataka where most of the steel plants, including 10 million tonne plant of JSW Steel is located. The land has been acquired by the Karnataka government through Karnataka Industrial Area Development Board (KIADB) and the company has deposited Rs 260 crore with the government for the same.

Last week, Sriprakash Jaiswal said files were yet to reach him

The Coal Ministry has not acted upon the recommendations of the Inter-Ministerial Group (IMG) for de-allocating six additional coal blocks and deduct bank guarantee in the case of seven companies. Although the IMG had submitted its final recommendations relating to the treatment of 29 coal blocks allotted to private parties, who were issued show cause notices, the Coal Ministry, under Coal Minister Sriprakash Jaiswal, has failed to initiate further action in pending cases

The blocks facing action are part of the 29 under the IMG scanner

The Inter-Ministerial Group (IMG) reviewing the controversial allotment of coal blocks for captive mining on Wednesday recommended cancelling those given to three companies, including Rungta Mines Ltd, due to production delays. It also said the government should deduct bank guarantees given by six companies, including Arcelor Mittal India Ltd, regarding four blocks.

Projects steel demand at 202-233 MT

The draft National Steel Policy has pegged the country's steel making capacity in the range of 244-281 million tonne by 2025-26. The policy seeks to replace the existing one that was formulated in 2005, and suggest ways to create an environment conducive for the growth of the industry that is plagued by issues such as land acquisition and raw material scarcity.

The Supreme Court on Friday issued notice to the Centre on a public interest suit seeking to quash the allotment of 194 coal blocks to private companies in six states. The government will have to respond to six questions from the court. Solicitor General R F Nariman accepted the notice and the case would be heard after two months.

The court has asked the government to produce the guidelines and the process adopted for the allocation of blocks. It also wants to know if there are any in-built mechanisms to ensure the allocations do not lead to distribution of largesse unfairly to a few private firms.