NRI billionaire L.N. Mittal-led ArcelorMittal is learnt to have started relocating its staff based in Orissa to other operations, generating speculation that the move was a precursor to shelving of the Rs 50,000-crore steel project that is haunted by delays.
“The staff relocation has started in Orissa. The company is putting the project on the back burner. Going forward, they may perhaps also completely drop the project,” a source familiar with the development said.
Earlier this year, Chairman and CEO Mittal had criticised the Indian system of governance and said: “We are not satisfied with the progress made in Jharkhand and Orissa... There have been delays in processes because the Indian government as well as the state governments have never received such... mega investments. I am sure Prime Minister (Manmohan Singh) is also not satisfied with the progress. He has told many a times that these investments should be accelerated.”
The MoU for the Orissa project was signed in December 2006.
When contacted, spokesperson of ArcelorMittal’s Indian operations Mandakini Sud said: “ArcelorMittal India employees are based in our various offices around the country. They work on India projects rather than a dedicated state one. Based on need, employees assist on different projects.”
{{/usCountry}}When contacted, spokesperson of ArcelorMittal’s Indian operations Mandakini Sud said: “ArcelorMittal India employees are based in our various offices around the country. They work on India projects rather than a dedicated state one. Based on need, employees assist on different projects.”
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