NMDC eyes ArcelorMittal land for Odisha steel project.

Central government undertaking NMDC Ltd., which has evinced interest to set up a mega steel plant project in Odisha, has proposed to use the government land earmarked for abandoned Arcelor Mittal project for construction of its proposed steel plant.

The mining company is in talks with Odisha Industrial Infrastructure Development Corporation (Idco), the land acquiring agency of state government, to avail the land and other clearances, sources said.

'The two parties have agreed to use the government land identified for ArcelorMittal. Talks are still going on about role of Idco in the proposed joint venture for the steel plant and it is expected that a MoU will be signed within a month or so after sorting out certain issues,' said a source involved with the negotiation process.

It has been proposed that the Odisha government will hold stake in the steel plant in lieu of the land provided by it, he added.


BS