NEW DELHI: Arcelor Mittal has made a headway for its proposed 10-billion dollar steel project in Jharkhand as the state government has offered over 1,000 acres of land for its plant.
The development comes at a time when the world's largest steel producer is facing resistance in the acquisition of private land from local villagers in the state. Vijay Bhatnagar told the media.
For the tribals of villages in the Gumla and Khunti districts of Jharkhand, where the Arcelor-Mittal steel plant is to be situated, the company does not spell employment opportunities as much as an annihilation of their way of life, their culture and the environment.
Indrani Dutta, Kolkata: ArcelorMittal has finally submitted its expression of interest (EoI) for reviving abandoned mines of Coal India Ltd (CIL) for which the Navratna PSU had invited global EoIs for
Ranchi: Steel major ArcelorMittal was today able to break the ice with over 200 villagers of Khunti and Gumla districts where it is scouting for land to set up mega steel and power projects with an investment of over Rs 40,000 crore.
World's richest Indian Lakshmi Mittal, known for creating the world's largest steel empire mostly through merger and acquisitions, said that there was no Indian company on his takeover radar.
"It is very unlikely that we get an M&A opportunity in India as Indian entrepreneurs are doing very well and whatever expansion we are planning in India would be through greenfield projects," Mittal said in New Delhi.
"It is very unlikely for us to do an M&A deal in India," he said.
The government would give a special dispensation to state-owned entities such as NTPC for the development of captive blocks under a new policy to be announced within a week, coal minister Sriprakash Jaiswal told FE in an exclusive interview.
The policy on development of captive blocks will, however, be tough on private sector companies who fail to adhere to agreed time-lines for development of
