ArcelorMittal and POSCO’s steel projects approves by Karnataka government, India

Published: 07-Jan-2010

The High Level Clearance Committee headed by Karnataka chief minister BS Yeddyurappa has approved ArcelorMittal and POSCO’s mega steel manufacturing projects in Karnataka, a south Indian state.

The Commerce and Industries Principal Secretary of Karnataka, Baligar was reported stating that the representatives of ArcelorMittal have already visited Bagalkot, Bijapur and Bellary districts to identify a location to set up 6 million ton per annum integrated steel plant with an investment of INR 30, 0000 million ($431.3 million) along with a 750 MW captive power plant.

He also added that POSCO would search for the location in Karnataka for setting up its 6 million ton FINEX steel plant and 400 MW captive power plant with an investment of INR32, 3360 million ($464.8 million). The location of both the plants would be near water source Almatti dam and iron ore source, Bellary.

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