New Delhi: Jharkhand was confident that Mittal Steel would go ahead with its delay-plagued 12 million tonne greenfield project in the state, saying company chairman Lakshmi Mittal has not spelt out plans to pull out while announcing investments in neighbouring Orissa.
"Mittal is a big player who can have more than one plant in India," Chief Minister Arjun Munda said,
Munda pointed out that the steel tycoon had not said that he was pulling out of Jharkhand.
Citing finalisation of a rehabilitation policy as the reason behind the project getting delayed, he said as the policy aimed at ensuring adequate compensation to displaced tribals is finalised, "the process (clearance for the project) would gather momentum".
He said that his government was fully cooperating with Mittal Steel, which has examined many sites for setting up a plant.
Munda also pointed out that Mittal would have to invest a certain amount of money in the state as envisaged in the MoU signed last year.
Unhappy with the slow progress of work, Mittal announced on Friday that he would invest around Rs 40,000 crore in neighbouring Orissa, but added that he would start work "wherever things move faster."
Munda said, India has set a target of 110 MT tonnes of domestic steel production by 2025 against the present installed capacity of 35 MT. "So, the nation would need large amount of capital to meet this target.
"Jharkhand government would welcome all investments coming to the state," he said.
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