(RTTNews) - ArcelorMittal, the world's largest steel company, has approached the government of Karnataka to set up a steel plant in the state that would attract Rs.30,000 crore investment, media reports said.
The company is understood to have sought approval from the single window clearance committee of the state government for the proposed steel plant. However, a host of techno-economic factors would be considered before finalizing setting up of an integrated plant in the state.
A company spokesperson reportedly said that more details would be divulged on factors like cost, capacity, time frame etc as the technical studies are completed in about three to four months.
According to sources, L N Mittal-led company is planning to set up 6-million tonne per annum steel plant in Karnataka. The company has already planned Rs.1 lakh crore worth projects in Jharkhand and Orissa. The company has been facing problems related to land acquisition and regulatory procedures for its 12-MTPA steel plants.
by RTT Staff Writer
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