Mittal Steel signs an agreement with Orissa Government

Mittal Steel signs an agreement with Orissa Government

The Orissa Government has signed on a memorandum of understanding (MoU) with Mittal Steel Company N.V.

This deal would see Mittal Steel setting up a 12-million-tonne capacity steel plant in the State.

This plant would be located in the mineral-rich Keonjhar district and would see an investment of around Rs. 40,000 crore.

This MoU was signed on by L. N. Gupta, Secretary of the Steel and Mines Department, and Malay Mukherjee, Member, Group Management, Board of Arcelor Mittal

Mittal Steel said that the first phase of six million tonnes capacity will be completed in 48 months after the preparation of a detailed project report. The second phase would require another 54 months after the first phase.

The Orissa Government would provide Mittal Steel 8,000 acres of land out of which 6,000 acres would be used by the plant.