moneycontrol.com reported that the Karnataka government has finally handing over land to the steel major for setting up its first steel plant in India

As per report, 2o years after it signed an MoU to set up a 6 MTPA steel plant in Karnataka, the state government has completed the land acquisition process for the proposed INR 30,000 crore investment and has handed over 2569 acres of land in Bellary to the company.

The report cites spokesperson of ArcelorMittal as saying that “We have made progress on land acquisition in Karnataka. The Karnataka Government has transferred the requested private land in the company's name and the process to transfer another 136 acres of government land is underway. The process of getting various clearances including crucial environment clearance is underway. We have also applied for mining leases which are critical for the project. We are focusing on getting all relevant clearances.”

Source - moneycontrol.com

(www.steelguru.com)