- ArcelorMittal acquires 1,827 acre for steel plant in Karnataka
World’s largest steel producer ArcelorMittal has acquired the possession of 1,827 acres plot of land for 6 million tonne steel plant in Karnataka.In its 2010 annual report, the company declared that it has completed all necessary formalities to acquire the land and is likely to get 972 acres plot by May. Apart from that, it has also proposed to build a 750-MW captive power plant in the state.
- Karnataka steel industry reels under mining ban
Reeling under raw material shortages and the extension of a mining ban, the multi-billion dollar Karnataka steel industry is in the doldrums due to continuing uncertainty over iron ore supply to their plants.The jittery industry was not even optimistic over the release of 25 million tonne (MT) of iron ore, lying at various mines in the southern state, as the modalities are yet to be worked out.
- ArcelorMittal signs MoU for steel plant in Karnataka
ArcelorMittal formally signed a Memorandum of Understanding (MoU) to spend Rs 300 billion ($6.4 billion) to build a six million-tonne-a-year steel plant in Karnataka, on Friday, Jun 4.This deal was previously announced in Jan, 2010 by ArcelorMittal, the world’s largest steel maker. It was signed on Thursday, Jun 3 at the Global Investors Meet organised by the Karnataka government.
- ArcelorMittal to set up steel plant in Karnataka
Arcelormittal, the world’s largest steel company, on Monday said it has approached the Karnataka government for setting up a steel plant in the state. The steel project in Karnataka will be in addition to ArcelorMittal’s existing plans to build steel plants in Orissa and Jharkhand, a company statement said.Although the company didn’t disclose any details, television channel ET Now, part of this newspaper, said that ArcelorMittal could be looking at a minimum size of 6 million tonnes. According to industry thumb rule, such a plant would cost about Rs 24,000 crore.
- KSFC mulls setting up steel park at Koppal
The state-owned Karnataka State Financial Corporation (KSFC) is actively considering to set up a steel park at Koppal, Deputy Chief Minister B S Yediyurappa said today.Talking to newspersons here, he said a detailed project report was being prepared to set up the park, which would add value to the iron ore available abundantly in the area.
- Electronic, steel, IT industry shows robust growth
Registering an impressive 20-25 per cent growth in production, Karnataka’s Electronics, Steel and IT industry have been buoyant during October 2006 – March 2007, according to a survey by the Confederation of Indian Industry (CII).The bi-annual Industry Monitor Survey forecast a robust 25 per cent growth in production for the industries in the State during April-September 2007.