ArcelorMittal, world’s largest steel maker, controlled by billionaire Lakshmi Niwas Mittal, has backed out from the six million tonnes per annum (MTPA) steel mill it had proposed for Bellary district, Karnataka. The government had granted Luxembourg-based steel behemoth about 2,500 acres of land allotted for the project.
ArcelorMittal has asked the state government if it can set up a solar farm in the said plot. The state government, which is sympathetic to the hard times the steel sector is passing through, however, has not responded yet.
The government has created a ready land bank of 26,268 acres which they can allot to industries that are serious about setting up their project. This is a departure from the past practice when the agencies would start scouting for land after signing an MoU.
Original Post: SQ
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