Rs 30,000 Crore Steel Plant In Karnataka’s Mineral Heartland: ArcelorMittal Revives Ballari Plant Proposal


Rs 30,000 Crore Steel Plant In Karnataka’s Mineral Heartland: ArcelorMittal Revives Ballari Plant Proposal

World’s largest Steel Maker ArcelorMittal, which had shelved its plans for a six-million-tonne per annum (MTPA) steel plant in Ballari at an estimated investment of Rs 30,000 crore two years ago due to lack of raw material linkage, has approached the Karnataka state government once again with a proposal to revive the project, Deccan Herald reported.

The report quoted Gaurav Gupta, principal secretary, Department of Commerce and Industries, Karnataka government, as saying that “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.

During the global investors meeting organised by B S Yeddyurappa-led BJP government on 3 June 2010 ArcelorMittal had inked a MoU to invest Rs 30,000 crore in setting up the integrated steel plant along with a 750-MW captive power plant in Ballari district. Read More

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