Nov 23 2007
ArcelorMittal, the world's largest steel company, today announced that it has been allocated steam coal blocks for the first phase of its Indian greenfield projects in Jharkhand and Orissa.
ArcelorMittal plans to build integrated steel plants in Jharkhand and Orissa each with a total annual capacity of 12 million tonnes at a combined investment of approximately $20 billion. The projects would be developed in two phases of 6 million tonnes each. Each plant will also have captive power units for which the coal block allocations will be utilised.
The Government of India has allocated ArcelorMittal coal blocks on a sharing basis at Sereghara block in Jharkhand and Rampia and Dip-side Rampia block in Orissa. In Jharkhand, ArcelorMittal has been allocated 83.33 million tonnes of steam coal out of the 150 million tonnes allocated. In Orissa, the share is 84.16 million tonnes out of a total of 645.24 million tonnes.
Commenting, M P Singh, Vice President Mining, Mergers and Acquisitions at ArcelorMittal said: "This is a good beginning towards the realisation of our Jharkhand and Orissa projects, which will both bring considerable economic benefits to India and the states of Jharkhand and Orissa in particular. This announcement is a positive sign that the Government of India and the State governments of Jharkhand and Orissa are supportive of ArcelorMittal and our commitment to these projects."