Karnataka to grant approvals to ArcelorMittal project this month

NEW DELHI: Karnataka is doing everything to ensure the proposed Rs 30,000-crore investment in the state by steel giant ArcelorMittal, including easy clearances for mining lease and land acquisition by the end of December.

The state has formed a special screening committee to expedite regulatory clearances and has targeted to give these approvals within this month.

"We welcome ArcelorMittal to set up their 6 million tonnes per annum (MTPA) venture here in the state and will clear all necessary approvals in December," Karnataka's Commissioner for Industrial Development Raj Khatri said.

ArcelorMittal has identified Karnataka as a possible location for their project, but is yet to disclose the size of the project in terms of capacity or investment.

"A screening committee, constituted by Chief Minister BS Yeddyurappa for expediting the proposals of the steel giant, has cleared the mining lease application of the ArcelorMittal and we will provide all necessary clearances to it this month," Khatri, who is also the Member Secretary of the Screening Committee, said.

The steel giant had last month short-listed sites in the iron ore-rich Bellary region in north Karnataka for the integrated plant.