Tata Steel upset with Jharkhand government
Company sources say J'khand Govt was according preference to MNCs without taking into account the contributions made by the century-old Tata Steel.india Updated: Jul 30, 2006 15:06 IST
Private steel major, Tata Steel, on Sunday expressed dissatisfaction at the slow progress in Jharkhand in announcing the rehabilitation procedure and delay in allocation of mines for its proposed 12 million tonne greenfield integrated steel plant in Saraikela-Kharswan district.
Company sources said the Jharkhand government was according preference to multi-national companies without taking into account the contributions made by the century-old Tata Steel for the state.
While Tata Steel has already invested Rs 5000 crore in the ongoing 1.8 million tonne expansion programme at Jamshedpur, multinational companies were still planning to invest in the state, the sources said.
Tata Steel would invest Rs 53,000 crore for the new plant to produce 12 million tonne of steel phase wise.
Regretting the slow progress by the state government, the sources said the company has completed all formalities, including applying for land, water, electricity and allocation for iron ore mines lease, but no action had been initiated by the Jharkhand government as yet.
Tata Steel's reaction came following a series of meetings between Jharkhand government officials headed by its Chief Secretary MK Mandal and prospective investors including Tata Steel, Bhusan Steel and Jindal Steel at Ranchi on Sunday.