Arcelormittal’s plans to set up a six million tonne per annum (mtpa) steel plant in Bellary district of Karnataka is on track, with farmers coming forward to accept the compensation package for land acquisition. The world’s largest steel producer had zeroed in on Kuditini in Bellary district to set up its plant and laid out a land requirement of around 4,000 acres. However, these plans were opposed by some farmer groups...
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Blow for India's $12bn South Korean steel deal
An Indian government panel has recommended that environmental clearances for a steel plant to be built by South Korean company Posco be scrapped. The $12bn plant in Orissa is India's largest foreign investment project. Critics of the project say it will exhaust Iron Ore deposits in 20 years. India earlier rejected plans by mining giant Vedanta to extract bauxite in eastern Orissa state saying it would damage the local environment. A panel of India's...
More »Posco's Planned $12 Billion Indian Steel Plant in Doubt After Panel Report by Abhijit Roy Chowdhury and Abhishek Shanker
Posco’s proposed $12 billion steel plant in India is in doubt after a government panel recommended scrapping environment clearances given to the world’s third largest steelmaker. Three of the four members of the panel suggested that approvals should be canceled because of “flaws in the studies, and shortcomings in the clearances granted” to the project in the eastern state of Orissa, Environment Minister Jairam Ramesh told reporters yesterday in New Delhi....
More »Jairam orders review of Sindhudurg mine leases by Viju B
Union minister of environment and forest Jairam Ramesh has asked Maharashtra chief minister Ashok Chavan to review the 49 mining leases given for excavation of Iron Ore and bauxite in Sindhudurg region. The move follows a TOI expose on the state government`s decision to approve the leases in the eco-sensitive district of Konkan Maharashtra. Ramesh`s letter to the chief minister, which attached a series of news reports that appeared in TOI...
More »India's Bitter Choice: Water for Steel or Food? by Abhishek Shanker
Global steel giants ArcelorMittal (MT) and Posco are leading $80 billion in planned spending in India, an investment that would vault the country ahead of Japan as the second-biggest steelmaker. There's one hurdle: India's farmers and their water supply. The farmers refuse to move from irrigated land in three states that hold more than half of India's reserves of Iron Ore, a key material used in the making of steel....
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