NMDC proposes to use abandoned ArcelorMittal land for Odisha steel project
Sources close to the proceedings at NMDC Ltd have revealed that the Central government undertaking has put forth a proposal for using the government land earmarked for the abandoned ArcelorMittal project for constructing its proposed steel plant.
According to the details shared by the sources, NMDC is currently holding discussions with Odisha Industrial Infrastructure Development Corporation (Idco) – Odisha government’s land acquiring agency – for availing the mentioned land and other clearances.
With regard to the ongoing negotiations, both NMDC and Idco agreed to make use of the government land earmarked for the project abandoned by ArcelorMittal. Talks are presently underway about Idco’s role in proposed joint venture for the steel plant; and it is likely that a MoU will be signed within a month’s time after certain issues are sorted out.
One of the sources has also proposed that a stake in the steel plant will be held by the Odisha government in lieu of the 2,847.50-acre land that Idco will provide in Keonjhar. The land was earmarked for the scrapped proposal of ArcelorMittal.
NMDC has apparently expressed interest in using the land for its proposed steel plant due to the fact that Malangtoli iron ore deposit, owned by PSU Odisha Mining Corporation (OMC), is located in the same district.
Source – Business Standard
ArcelorMittal project, Idco, NMDC, Odisha government, Odisha Industrial Infrastructure Development Corporation, Odisha Mining Corporation, steel-king
