Mining site could be the key, says Lakshmi Mittal
Addressing the media, Mittal indicated that the location was yet an open issue. However, asked about mining leases, Mittal, who maintained that land, power, ore availability were all necessary for a steel project, skirted the issue saying “let’s not discuss mining sites at the moment.”
Admitting that he was quite aware of the controvery surrounding the issue in the State, and that mining issue was still being sorted out, Mittal said: “Mining location is a problem. We are in the process of working with the governemnt to get mining lease. We do not have a mining lease, but the process is on. As the State had no control over it, the government can only recommend...to see how we progress. We have not identified a mining site.”
“We have water allocated for the plant. For power, we are working with Power Corporation to explore a joint venture. We do not have coal linkages but dialogue is on,” he said, adding “we are at preliminary stage of MoU” and real progress would only begin now.
On when would he expect the steel project, given all clearances came through, to go on stream, he said “once foundation begins, it should take 36 months. Foundation means once land is acquired, engineering done, then start counting the time.” He was unwilling to put a specific timeframe for the completion period.
In States such as Orissa and Jharkhand, ArcelorMittal was facing many issues involving land, forest and environment clearances et al, Mittal said. As for the mega six-million tonne steel project, many milestones were yet to be achieved, but his experience in Karnataka had been pleasant.
“The Karnataka government’s attitude and positive support during the past few months since my meeting with Chief Minister Yeddyurappa and signing of the MoU has been a great experience,” he said adding “he was quite happy and excited about the project’s prospects in the State.
To a poser whether there had been any trade-offs given the fact he was now focussing more on Karnataka than Jharkhand and Orissa, Mittal said there was no question of it. “Arcelor Mittal believes in growing in India and there is no trade-off. What is happening is priorities will change depending on approvals and market development. If we see progress in Karnataka is ahead of others, then this project will get priority,” he said.
“Our position is we will bring in the investment and the rest is upto the State,” he observed.
However, noting that when he had raised the issue about success rate of the projects the State had announced, the chief minister and officials he spoke to were non-commital.
DH News Service
