Now Mittals in K'taka, acquires 1,827 acre for steel plant

New Delhi, Feb 26: World's largest steel producer ArcelorMittal has acquired the possession of 1,827 acres plot of land for 6 million tonne steel plant in Karnataka.

In its 2010 annual report, the company declared that it has completed all necessary formalities to acquire the land and is likely to get 972 acres plot by May. Apart from that, it has also proposed to build a 750-MW captive power plant in the state.

According to the annual report, a draft feasibility report for the contemplated steel plant is currently being prepared, and hydrological and environmental impact assessment studies have been initiated.

L N Mittal, Company chief said that India has been removed from the company's business plans for the next few years due to some regulatory issues.

"It is very difficult to say anything... When we will start the construction, when we will really make the progress. We are not even counting them in our business plans for the next few years," L N Mittal said.

OneIndia News