Jitters For Odisha As Posco Scraps Karnataka Project 2020

Global steel major ArcelorMittal on Wednesday scrapped the Rs 50,000 crore steel project in Odisha citing inordinate delay and problem in acquiring land and securing iron ore linkages. The decision to pull out from the State came a day after South Korean steel major Posco scrapped its Rs 30,000 crore steel mill in Karnataka. Jul 18, 2013 · ArcellorMittal’s decision came a day after South Korean steel maker POSCO scrapped its Rs.30,000 crore steel project in Karnataka. Reacting to the development, the authorities in Odisha said they were not surprised by the announcement. In 2006, ArcelorMittal had signed a memorandum of understanding MoU with the Odisha government to set up a 12-million tonne steel plant in four phases at Keonjhar The developement comes just a day after South Korean steel major Posco pulled out of its Rs 30,000-crore steel mill in Karnataka and. Significantly, while Posco exited from the Karnataka project, it chose to continue with the Odisha project. Both the companies view the conditions in the same state differently. Posco may scrap Rs 52,000-cr steel project. “The Posco has declared to freeze the Odisha project and the Biju Janata Dal BJD government in the state is squarely responsible for this.

ArcelorMittal scraps 12 MT steel project in Odisha citing delays Dear FM, raising FDI limits is not reform What prompted Posco to exit mega steel project in Karnataka? Posco exits Karnataka, left with two steel projects in India Final hearing on Posco environment clearance on August 12. Jul 17, 2013 · ArcelorMittal, the world's top steelmaker, said it would scrap a planned steel plant in Odisha due to delays in acquiring land and an iron ore mine,. Spokesman Ritesh Sinha declined to say if the company has set a deadline for the two projects.Although ArcelorMittal is pulling out of Odisha, its rival POSCO is expected to get an iron ore.

Jul 18, 2013 · ArcelorMittal scraps 12MT Odisha steel project. of a $5.3-billion steel project in Karnataka due to similar problems of delay in land acquisition and other clearances. But Posco. Jul 17, 2013 · Jitters for Odisha as Posco scraps Karnataka project BHUBANESWAR: Faced with resistance to acquire land and unfavourable market conditions, steel bellwether Posco on Tuesday announced its decision to scrap its 6 mtpa steel plant plan in Karnataka.

Jul 16, 2013 · Commenting on the development, H K Patil, minister in charge for Gadag district in the Karnataka government, said the people of the area will be happy with Posco's pullout. Posco scraps. ArcelorMittal to scrap planned steel plant in Odisha 1. POSCO said it was ditching a project to build a 6-million tonne-a-year plant in Karnataka and focus on its own project for a 12-million. ArcelorMittal scraps Rs 50,000 cr steel project in Odisha. its Rs 30,000-crore steel mill in Karnataka and the government widened its doors to foreign direct investment for a dozen sectors.

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