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Delays hit ArcelorMittal Rs 1 lakh cr project in India

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    ArcelorMittal said on Wednesday that options are open before it on shifting its Rs 1 lakh-crore steel projects from proposed sites in Orissa and Jharkhand.

    "At this time, we are focusing on Jharkhand and Orissa. We are looking at different sites because existing sites are not making progress. We being the global company are not limiting our options only in two states," ArcelorMittal Chairman and CEO L N Mittal said during a call conference.

    Earlier this month, the company had threatened to withdraw from the states on account of inordinate delays in getting land and regulatory approvals for the proposed projects.

    Asked if the company is in talks with iron-ore rich states like Karnataka, Mittal said, "We are in India, so I am sure my people must be discussing and talking with various options and opportunities."

    Earlier in the day, ArcelorMittal CFO Aditya Mittal said that the company is in talks with the Orissa and Jharkhand governments for alternative sites for the 12-million tonnes per annum steel projects which have remained stuck, mainly due to problems in acquiring land.

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    "We are in talks (with the state governments) for (new) potential sites for our projects. We can shift the sites within the two states. Theoretically, we are also looking at other sites within the country," he said.

    The company is "disappointed" with the progress made so far on its proposed mega-steel plants in Orissa and Jharkhand. It has rued the regulatory hurdles as well. Jharkhand Industry and Mines Secretary N N Sinha said over phone that the state government has not been formally intimated about the company's new plans.

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    oh what a tragedy for Jharkhand and OrrisaBy: L.C.Bilandani | 29-Oct-2009 Reply | Forward Jhanrkhand and Orrisa being the most backward and poor states had a chance to give early clearnce to the mega steel of Arcellor Mittal which will change the industrial map of these states.But alas this could not happen in India as to whether industries set up shop or not,politicians be bribed first to the fill and then only they will take thier own sweet time for clearance of the project.This project is hanging fire for more than 3years and Navin Patnaik and his Jharkhandi counter part have often talked of single window clearance.Now where is the single window clearance? If this happens to a mega project, think of difficulties small scale industry people experince in both states.The benefits are tremendeous to both the states.Revenue earnings by sales tax,income tax,employment for thousands of people of the state but neither political or secretary level officials are interested till their pockets have not been filled and it is alway beneficial to these people that state remain backward
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