ArcelorMittal to get Govt land for steel project | business | Hindustan Times
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ArcelorMittal to get Govt land for steel project

Steel major ArcelorMittal will be given government land to set up its proposed Rs 400-billion steel project in Jharkhand, state Industries Director Rahul Sharma said.

business Updated: Feb 14, 2009 06:13 IST

Steel major ArcelorMittal will be given government land to set up its proposed Rs 400-billion (Rs 40,000-crore) steel project in Jharkhand, state Industries Director Rahul Sharma said on Friday.

"We have asked ArcelorMittal representatives to deposit Rs 12.5 crore (Rs 125 million) to Gumla district to get 1,000 acres of government land. We have also asked the Khuti administration to expedite the land survey work," Sharma told IANS.

He added that the government would soon start handing over the land to the company.

The steel major had identified land in Khuti and Gumla districts for the project that includes a 12-million-tonne greenfield steel plant and a township.

ArcelorMittal needs around 8,800 acres for the plant and 2,400 acres for the township.

The company has welcomed the government move.

"We welcome the government initiative to provide land to our steel projects. The state government should expedite land acquisition to provide us required land," a company official in Ranchi said.

ArcelorMittal has already got coal blocks and iron ore mines on lease in Jharkhand.