ArcelorMittal finally calls it quits at Khunti-Gumla in Jharkhand
<http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/ArcelorMittal-finally-calls-it-quits-at-Khunti-Gumla-in-Jharkhand/articleshow/5695294.cms#write> Text: RANCHI: ArcelorMittal has finally called it quits at Khunti-Gumla in Jharkhand where it had originally decided to set up a 12-mtpa greenfield steel [image: ArcelorMittal] <javascript:openslideshow('/slideshow/5695298.cms')> <javascript:openslideshow('/slideshow/5695298.cms')> project at an estimated cost of Rs 50,000 crore. That was way back in 2005 when the MoU was signed, followed by the site selection a year later. Unfortunately, the selection ran into rough weather as tribals in the area refused to part with land. The company had come up against a wall of protests, so much so that its representatives couldn’t even hold a single meeting with villagers as tribals simply refused to parley. The impasse had forced the company to scout for other areas and it fortunately found some at Bokaro. Negotiations are still on, but apparently some 1000 acres have been sourced from about 200 villagers who have consented to sell their land. A meeting to this effect was held at Petarwar last month. On Wednesday, ArcelorMittal formally sent a communication to the government announcing the relocation of its project from the Khunti-Gumla area to Bokaro. This was confirmed by Jharkhand industries director, Aradhana Patnaik, who told ET that the company has indeed sent the communication to the state government. "We have received the letter regarding shifting of the project. Now the government will extend all support to the company to set up its plant at the new site," she said. Ms Patnaik said the company has also requested the water resources department for 45 million cubic metres of water from the Tenughat dam to cater to the requirements of the proposed plant which will be of 3 mt initially. The company also plans to start purchasing the land soon after it gets clearance from the water resources department. In the meantime, according to a company official, the process of negotiations with the villagers will continue. According to Ms Patnaik, the company should create a favourable condition in the area by taking up steps under the corporate social responsibility (CSR) in order to win the trust of the people, which is very important for the project to kickstart. http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/ArcelorMittal-finally-calls-it-quits-at-Khunti-Gumla-in-Jharkhand/articleshow/5695294.cms -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
