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ArcelorMittal plans revival of Ballari steel plant -Report

Steel News - Published on Thu, 08 Nov 2018

Image Source: Business Today
Deccan Herald reported that ArcelorMittal, which had shelved the project two years ago due to unavailability of raw material linkage, has approached the Karnataka state government once again with a proposal to revive the project. Gaurav Gupta, principal secretary, Department of Commerce and Industries, Karnataka government, told DH “The company has again come forward to set up the steel plant and given a formal proposal to the government. Their application is currently under consideration and the government is yet to take a final decision.”

He said the government has not agreed to the company’s proposal to convert the land use and set up a solar farm.

ArcelorMittal had signed a MoU with the Karnataka government during the global investors’ meet on June 3, 2010. It had proposed to invest INR 30,000 crore to set up its integrated steel plant along with a 750-MW captive power plant in Ballari district. The company, however, shelved the project as there was no commitment from the state government on allocation of iron ore reserves. Instead, it had sought permission to set up a 600-MW solar power plant at the same location where the government has allotted 2,800 acres of land to the company in Kuditini village.

The Karnataka Industrial Areas Development Board (KIADB) has acquired and handed over to the company 2,800 acres land at Kuditini village in Ballari district for their proposed steel plant.

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Posted By : Sanju Moirangthem on Thu, 08 Nov 2018
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