ArcelorMittal in talks with Orissa, Jharkhand for new site

ArcelorMittal in talks with Orissa, Jharkhand for new site

New Delhi: ArcelorMittal today said it is in talks with the Orissa and Jharkhand governments for alternative sites for its Rs1 lakh crore steel projects which have remained stuck, mainly due to problems in acquiring land.

Aditya Mittal, chief financial officer of the world’s largest steel maker, said through a conference call that ArcelorMittal is also exploring options to move out of the two states where their projects are facing protests.

“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," Mittal said.

The company is “disappointed" with the progress made so far on its proposed 12-million tonnes per annum steel plant, each in Orissa and Jharkhand. It has rued the regulatory hurdles as well.

However, Jharkand Industry and Mines secretary N N Sinha said from Ranchi over phone that the state government has not been formally intimated about the company’s new plans.

“There have been many informal talks in this regard, but we have not received any formal communication yet," he said.

The Orissa government could not be reached for comments.

Asked whether the NRI billionaire L N Mittal led firm would drop the projects, Mittal said, “India continues to be an important destination for ArcelorMittal."