ArcelorMittal in talks with HEC for biz cooperation

Arcelor Mittal’s dream of setting up a steel plant in the state is set to take its first steps to becoming a reality. A meeting between senior officials of state-owned Heavy Engineering Corporation (HEC) and the steel giant was held on Friday to discuss areas of business cooperation. The steel company’s team will then visit HEC’s foundary forge, heavy machine building and heavy machine tool plants. HEC will then decide if they can build the steel plant. “We are prepared to make a presentation to showcase our capability,” HEC general manager Jayant Kumar said.

As per the two separate MoUs between Arcelor Mittal and the Jharkhand and Orissa governments, the steel company plans to come up with 12 million capacity integrated steel plants in the two states at an approximate investment of Rs 40,000 crore.

The centre had leased a coal block to Arcelor Mittal at the recommendation of the state governments. But due to an inordinate delay on its part not to notify its rehabilitation and resettlement policy, the company was finding it difficult to acquire land.

Earlier, HEC CMD G K Pillai had spoken with Malay Mukherjee, a member of the management board at Arcelor Mittal.