ArcelorMittal plans steel plant in state
TNN 28 November 2009, 05:12am IST
BANGALORE: The world’s largest steel producer ArcelorMittal shortlisted five districts in northern Karnataka for its proposed steel plant involving an investment of Rs 30,000 crore.
The project will require 4,000 acres of land. The state has steel zones in Bijapur, Bagalkot, Koppal, Dharwad and Bellary, and the plant is proposed to be located in one of them. If finalized, the project will be one of the largest in the state. ArcelorMittal chief executive Vijay Bhatnagar told mediapersons, “We have shortlisted some sites after a survey. We’ll get into details now.’’
A team of ArcelorMittal officials met chief minister B S Yeddyurappa and industries minister Murugesh Nirani here on Friday. Yeddyurappa said ArcelorMittal came forward to set up a steel plant and trading activities in the state. The proposal, he said, is to invest around Rs 30,000 crore in the first phase to establish a 6 million tonne per annum integrated steel plant and a captive 750 MW power plant.
The projects are expected to generate employment for 10,000 people, said Bhatnagar, also CEO of ArcelorMittal China operations.
In a separate release, company chairman L N Mittal was quoted as saying, “Our team had a constructive and positive meeting in response to an invitation from the Karnataka government. Karnataka is one of the most progressive states in India and therefore is an ideal place to build a world-class steel plant.
