Mittal confident of mining lease for Orissa unit

Arcelor Mittal Chief Executive Lakshmi Mittal is confident of obtaining a mining lease for a steel plant the firm aims to build in Orissa.
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Updated on Jul 27, 2007 08:42 AM IST
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Reuters | By HT Correspondent, Bhubaneswar

Arcelor Mittal Chief Executive Lakshmi Mittal said on Thursday he was confident of obtaining a mining lease for a steel plant the firm aims to build in Orissa.

Mittal and other Arcelor Mittal officials met Orissa's chief minister for talks.

"Today we discussed all issues ranging from land to mines. We are pretty confident of getting the mining lease," Mittal told reporters when asked if foresaw problems in bagging captive supplies of iron ore.

Last December, Arcelor Mittal, the world's biggest steel maker, signed a multi-billion deal with the Orissa government to build a 12 million tonne steel plant.

"We are encouraged by the progress of the project. The chief minister is very keen on the project," Mittal said.

He added that a detailed project report would be ready by mid-2008 and the first phase of the plant would be commissioned within four years of the report's completion.

Arcelor Mittal is also planning a similar sized steel unit in Jharkhand.

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