Mittal Steel Company signs MoU for mega steel plant in Orissa

Bhubaneswar,Dec 21(UNI) The Mittal Steel Company N V (Arcelor Mittal) the largest steel producer and a global leader in steel production, today signed Memorandum of Understanding(MoU) with the Orissa government to set up 12 MTPA steel plant in the state.

The mega steel project, to be set up at an investment of Rs 40,000 crores, would have the facility of coke oven, steel making, rolling mills and captive power plant spread over 8000 acres of land in Keonjhar district.

The first phase of the project having capacity of 6 MTPA would be completed in 48 months after preparation of the Detailed Project Report(DPR) while the second phase of equal capacity would be completed 54 months after the first phase.

Member Group Management Board of Arcelor Mittal Malaya Mukharjee signed the MoU with the Steel and Mines Secretary L N Gupta in presence of Chief Minister Naveen Patnaik, Industry Minister B B Harichandan and Steel and Mines Minister Padmanav Behera.

Chief Minister Naveen Patnaik described the signing of the MoU as yet another biggest FDI in the state after the POSCO project.The South Korea steel major POSCO had already signed the MoU with the Orissa government to set up 12 MTPA steel plant in Paradip with an investment of Rs 51,000 crores.

Mr Patnaik said the project would generate employment of 20,000 people, both direct and indirect, and urged the company to give special attention to rehabilitation and environment issue.

Steel and Mines Minister Padmanav Behera said the Arcelor Mittal would require 600 million tonnes of raw materials for 30 years and 125 million cubic meter of water per year which would be met from Baitarani river and Kanpur Dam under construction.

The company, he said, has proposed to set up its own captive power plant of 750 MW.Arcelor Mittal, Mr Behera said would require 6000 acres of land for the plant, 1000 acres for the captive power plant and another 1000 acres for the township.

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