Business Daily from THE HINDU group of publications
Saturday, Jul 08, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 08, 2006 |
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Corporate
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New Projects States - Other States Patnaik delighted with Mittal's plans to set up plant in Orissa Prafulla Das
Hopeful venture Arcelor-Mittal has kept its options open to either go in for a port-based plant or a land-locked plant site. The company is likely to go for a site having little human habitation to avoid any resistance from the people.
Bhubaneswar , July 7 The Orissa Chief Minister, Mr Naveen Patnaik, seemed to be full of joy on Friday when he announced Lakshmi Niwas Mittal-owned Arcelor-Mittal's plans to set up a mega steel plant in the State. "We are delighted that Mr Mittal and his team have decided to invest in the steel sector in Orissa," Mr Patnaik said at a press conference with Mr Mittal and his son, Mr Aditya Mittal. Mr Patnaik had reasons to be happy because the industrialisation process, particularly in the steel sector, had virtually come to a halt after the killing of 13 tribal men and women at Kalinga Nagar in Jajpur district on January 2. The tribals were killed in police firing while opposing construction of a boundary wall for the proposed six-million-tonne steel plant of Tata Steel. Barring some small ventures, no big steel project was showing any progress on the ground as people facing displacement were either resorting to protests or demanding a better rehabilitation and resettlement package before agreeing to vacate their land and homes to make space for steel mills. The State Government officials were equally cheerful as Arcelor-Mittal had arrived with a huge investment proposal at a time when the government was grappling with resistance to the projects of Tata Steel and the much-hyped POSCO project which promised the biggest-ever foreign direct investment of Rs 51,000 crore. The situation will change for the better with the arrival of the Mittals, an official hoped. The project of Arcelor-Mittal was likely to have a smooth-sailing as head of the company's India operations, Mr Sanak Mishra, happened to be from the State and also had the experience of successfully running the SAIL-owned Rourkela Steel Plant before his retirement. As the proposal is at an initial stage, Arcelor-Mittal has kept its options open to either go in for a port-based plant or a land-locked plant site. The company is likely to go for a site having little human habitation to avoid any resistance from the people.
More Stories on : New Projects | Steel | Other States
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