The Orissa government has reportedly
decided to cancel MoUs signed for five private sector steel projects in the
state. The decision follows lack of project progress after the MoU-signing.
The biggest project is that of
Sterlite Iron & Steel (part of Vedanta Resources group) envisages a 5
million tpa integrated steel plant costing Rs.12,500 crore at Palaspanga in
Keonjhar district. The MoU was signed in October 2004.
The other four companies are AML Steel
& Power Ltd, Maharashtra Seamless, Sunflag Special Steels Ltd and Stats
Steel India (P) Ltd.
The state government is behooved to
cancel the MoUs following no initiative by the project promoters in acquiring
land or getting environmental clearance.
Also See:
Sterlite
signs MoU for steel plant (16-Oct-04)
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