Mittal unveils Rs 40k cr plan for Orissa
L N Mittal announced his intention to set up a 12 mn tonne steel plant in two phases in Orissa.
By PTI |
BHUBANESHWAR: Mittal Steel chief L N Mittal on Friday announced his intention to set up a 12 million tonne steel plant in two phases in Orissa and hoped to sign an agreement to this effect with the state shortly.
Mittal said that the total investment in the plant could be of the order of Rs 30,000 to Rs 40,000 crore.
He indicated that the company has dropped a proposal to set up a plant in Jharkhand of equal capacity because of the delays in Ranchi and instead concentrate on Orissa.
"Though the Jharkhand government is cooperating, we are not happy with the progress there. We are weighing our options in Orissa. We want to move fast," the world's biggest steelmaker told reporters after meeting Chief Minister Naveen Patnaik.
Mittal said that the total investment in the plant could be of the order of Rs 30,000 to Rs 40,000 crore.
He indicated that the company has dropped a proposal to set up a plant in Jharkhand of equal capacity because of the delays in Ranchi and instead concentrate on Orissa.
"Though the Jharkhand government is cooperating, we are not happy with the progress there. We are weighing our options in Orissa. We want to move fast," the world's biggest steelmaker told reporters after meeting Chief Minister Naveen Patnaik.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
