Archive for the 'Multinationals' Category

Land requirement of various upcoming steel companies

Anil Agarwal, Arcelor Mittal, Business Standard, Jindal, Land acquisition, POSCO, Steel, Tatas 2 Comments »

Following is an excerpt from a report in Business Standard.

The combined area required by these units has now been assessed at 33,268.5 acres, 16.48 per cent less than the 37,750 acres envisaged in the memoranda of understanding (MoUs) between these companies and the state government.

The state-owned Industrial Promotion and Investment Corporation of Orissa (Ipicol) had appointed MN Dastur & Co as consultant to prepare a report on the land requirement of various industries after receiving complains about companies demanding more land than they needed for the projects.

Ipicol, based on the report, has reassessed the land needs of the projects. The mega units that have been affected include Posco India, Jindal Steel and Power, Mittal Steel (India), Uttam Galva Steels, Sterlite Iron and Steel, and Bhushan Steel.

On the other hand, there has been no reduction in the land requirement of four mega units — Essar Steel Orissa (2,500 acres), SSL Energy (2,000 acres), Tata Steel (3,500 acres) and Welspun Power and Steel (2,200 acres). Out of the total land requirement, these steel companies have already applied for allotment of 32,034.9 acres, sources say.

Posco India, a subsidiary of South Korean steel major Posco, had sought 6,000 acres in the MoU signed with the state government in 2005 for its proposed 12-million-tonne per annum project near Paradip in Jagatsinghpur district. Ipicol, based on the Dastur & Co report, has reassessed the land requirement at 5,525 acres. The company has so far applied for 5,151 acres. While the state government has allotted 516 acres of its land to Posco, the company has already invested Rs 175.5 crore.

Jindal Steel and Power Ltd, which is setting up a six-million-tonne per annum steel project at Kerajang, needed about 5,750 acres. This has been cut to 3,843.5 acres by Ipicol. The company has applied to the Orissa government for 4,027 acres and has been allotted 1,719 acres. This includes 687.93 acres of government land and 1,031.85 acres private land. It has invested about Rs 765.46 crore in the project so far.

The land requirement of ArcelorMittal, which is planning to set up a 12-million-tonne greenfield steel project at Patna tehsil in Keonjhar district, has been reassessed at 7,750 acres. The company had sought 8,000 acres in the MoU. It has applied for 7,770 acres and has invested about Rs 50 crore for the project.

Similarly, the land requirement of Uttam Galva Steels, which is setting up a three-million-tonne steel project at Bistapal, has been reduced by 250 acres. While the MoU provided for allotment of 2,400 acres, Ipicol has reassessed this at 2,150 acres. The company applied for 2,146 acres and has been allotted 27.81 acres so far. The company has invested about Rs 35 crore for the project.

The three-million-tonne steel project planned by Sterlite Iron and Steel at Palasponga will have to manage with 1,000 acres less land than what was provided in the MoU. The company’s land requirement has been re-assessed at 2,400 acres. The company had applied for 3,378 acres, though has not been allotted any land so far.

The estimate of land needed by Bhushan Steel for its six-million-tonne per annum steel project at Meramundali in Dhenkanal district has been reduced by 600 acres. Though the company was to be provided 2,000 acres according to the MoU, Ipicol has reassessed the requirement at 1,400 acres. Bhushan Steel had applied for 1,994 acres and has been allotted 1,620 acres. It has invested Rs 5,000 crore in the project.

L & T receives order of 1372 crores for three plants in Orissa

Aluminium, Angul, Anil Agarwal, Anugul- Talcher - Saranga- Nalconagar, Birlas, Kalahandi, L & T, Steel, Vedanta No Comments »

Following is  from a report in Economic Times.

MUMBAI: Larsen & Toubro shares edged higher Tuesday after it won orders worth Rs 1372 crore from aluminium and steel makers.

The orders were received from Vedanta Aluminium, a part of Vedanta group, Utkal Alumina International and Bhushan Steel, it said in a statement.

The Rs 516 crore order from Vedanta Aluminum was for setting up of a 3 million tonne per annum alumina refinery at its Lanjigarh plant in Orissa. Utkal Alumina’s order was worth Rs 455 crore in which the engineering and construction firm would set up a 1.5 MTPA green field alumina refinery at Doraduga in Orissa.

Furthermore, L&T has secured an order worth Rs 401 crore from Bhushan Steel for civil, structural, equipment, erecting and piping works at Angul in Orissa.

Orissa govt. should not violate its own policies in granting mining leases to Arcelor Mittal (or any one for that matter) in advance

Arcelor Mittal, Giving industries a bad name, Keonjhar, Orissa govt. action, State Bureaucrats (IAS, OAS, etc.) No Comments »

It is often mentioned that the Orissa government has a policy of not recommending mine prospective licenses to companies until they have invested certain percentage of their whole budget in ground. It seems both POSCO and Arcelor Mittal are pushing the Orissa government to overlook this policy. Orissa government should not do that. In particular, after reading the following, from expressbuzz.com I have a bad feeling towards Arcelor Mittal.  

BHUBANESWAR: In a bid to put pressure on the State Government for mines, Arcelor-Mittal, the largest steel maker of the world, Monday said the company will submit a detailed project report (DPR) for 12 million tonnes greenfield steel project in Keonjhar district only after it gets recommendation for prospecting licence.

‘We will submit the DPR if the Government recommends our name for mines,’ chief executive officer of the company’s greenfield projects Sanak Mishra told mediapersons after meeting Chief Minister Naveen Patnaik. Official sources, however, said the company is yet to fulfil the procedural prerequisites for getting mines for the steel project.

A two-member delgation of the company comprising Mishra and Vijay Nagar CEO (India) Vijay Bhatnagar was explained the procedure to be followed before requesting for mines.

… Bhatnagar said raising finance for new projects has become difficult in view of the meltdown. On land acquisition, he said it depends on the cooperation of the people. Gram Sabha (village committee meeting) has been completed in three out of 15 revenue villages. A meeting with the people of the remaining villages will be held soon.

Sources said the company is facing opposition from the villagers who want land price to be decided before convening the gram sabha. The price quoted by the affected villagers is reportedly not acceptable to the company.

As per the MoU, the company requires 7,750 acres of land for the project. About 1,400 acres of the proposed site are forest land which requires conversion. Construction work for the project will start as and when a substantial protion of land is acquired, Bhatnagar said.

Vedanta’s 300 crore township project near Jharsuguda to be comparable to RIL’s at Jamnagar

Aluminium, Business Standard, Industrial Township, Jharsugurha, Jharsugurha- Brajarajnagar- Belpahar, Vedanta 1 Comment »

Following is from a report in Business Standard.

In the midst of implementing a $4 billion aluminium project in Orissa, NRI Anil Agarwal-led Vedanta group, has started a Rs 300-crore township project with the support of a Chinese firm to accommodate its over a 1,000 engineers and technical workforce.

Claiming that the project would be comparable if not better than what Mukesh Ambani-led RIL developed at Jamnagar in Gujarat, group company Vedanta Aluminium is importing services of China’s leading architect firm ECADI at a time when reality majors are reeling under a slump.

"We at Vedanta feel it is our duty not only to provide a conducive working atmosphere, but also best living comforts," company’s Director and CEO M Siddiqi said, adding, the township project would be completed by end of next year.

The township project, a concept popularised by PSUs in India, is crucial for the overall aluminium unit, first stage of which has already been commissioned and the second stage is targeted for completion next year, to attract and retain talent in the backward area of Jharsuguda in Orissa.

The Vedanta project envisages providing sophisticated and urban living accommodations and amenities to over 1,400 employees, who are already stationed at Jharsuguda aluminium plant.

The metals and mining major plans to pump in a whopping $4 billion to ramp up the capacity of its aluminium smelter to 1.8 million tonne by 2010.

At present, its operational capacity is 2,50,000 tonne, which would go up to 5,00,000 tonne by March 2009.

For meeting its power requirement, the company has set up a 675 MW power plant, the capacity of which will go up to 1,215 MW post-commissioning of the smelter’s first phase expansion.

Vedanta has a good CSR advisory board

Corporate Social Responsibility (CSR), Vedanta No Comments »

Following is from a news item in Kalinga Times.

“Vedanta is already doing a remarkable performance in its CSR activities and it should come with more such initiatives in the near future,” said S.B. Mishra, former Chief Secretary of Odisha while addressing at the first Corporate Social Responsibility advisory body meeting of Vedanta Aluminium Limited here on Saturday.

Noted writer Pratibha Ray also expressed her satisfaction over the CSR initiatives of Vedanta and advised the company authorities to lay more emphasis towards development and empowerment of women in the plant locations. She particularly gave thrust on women taking up higher responsibilities in society and that all the trainings should not be confined to only basic subjects.

Speaking on the occasion, veteran actor Bijay Mohanty expressed his willingness to visit the plant locations along with the other members and wanted to personally interact with the localities so that the realistic need analysis can be made.

The meeting was convened by the Whole Time Director and CEO of Vedanta Aluminium Sector M. Siddiqi.

Speaking on the occasion, Siddiqi said “Vedanta always strives for improving the living standards of the people on a sustainable basis. The efforts of the company have started showing result on the ground. But this is only the beginning. The wealth of expertise and experience of the Advisory Board Members will carry our CSR efforts to greater heights and show us the right direction”.

The advisory board comprises of 10 honorary members belonging to the elite section of society. The members on the board include P.K Jena, Chairman, Institute of Advance Technology & Environmental Studies; S. B. Mishra and Sahadev Sahoo (both former Chief Secretaries of Government of Orissa); O N Mohanty, Vice-Chancellor, Biju Patnaik University of Technology; A.B. Tripathy, retired Director General of Police; A. B. Ota, Director SC &ST Research and Development Centre, Government of Orissa; actor Bijay Mohanty, besides three women of repute Rita Ray, Professor, Department of Sociology, Utkal University; Namita Panda, Chairperson State Women Commission; and writer Pratibha Ray.

All the 10 members of the board attended the meeting today and shared their thoughts on CSR with the top Management of Vedanta Group.

According to the company, the advisory board is meant to act as a bridge between the company and the people of Odisha. The board will regularly monitor the CSR initiatives of the company and would ensure that the benefits of CSR efforts reach out to the society at large.

Integrated Titanium Complex in Chhatrapur

Berhampur- Gopalpur- Chhatrapur, Bhubaneswar-Berhampur, Business Standard, Ganjam, Gopalpur port (under constr.), Multinationals, SEZs, Titanium No Comments »

Following is an excerpt from a news report in Business Standard.

The Orissa government today signed a memorandum of understanding (MoU) with the Titanium Products Private Limited (TPPL), an Indo-Russian joint venture, for setting up of a Rs 2000 crore integrated titanium complex and sector specific special economic zone (SEZ) at Chhatrapur in Ganjam district.

SM Shroff , chairman of TPPL and the state industry secretary, A P Padhi signed the documents in the presence of chief minister, Naveen Patnaik in the state secretariat.

The company will invest about Rs 2000 crore in two phases. While the first phase will cost about Rs 1200 crore, another Rs 800 crore will be invested in the second phase. The first phase will be completed within a period of 24 months and is likely to be commissioned by October 2010. It will produce 1,08,000 tonnes of titanium slag, 68,000 tonnes of high purity pig iron, 40,000 tonnes of di-oxide pigment and 10,000 tonnes of titanium sponge.

TPPL has already entered into an agreement with the Indian Rare Earth Limited (IREL) for the supply of the raw material Ilminite. The company will require about 2 lakh tonnes of Ilminite annually for its project. India will be the fourth country in the world to have smelting technology required for production of titanium. The products will have applications in the field of aircraft engine, power plants, chemical plants, automobile industry as titanium is light and corrosion resistant.

TPPL will develop a sector specific special economic zone (SEZ) at its plant site for which it has received the in-principle approval from the Centre. However, it will require additional land beyond 250 acres acquired for the titanium complex.

The Orissa government has agreed to supply 65 Mw of power and 3 million gallon per day water for the project.

Speaking on the occasion chief minister Naveen Patnaik  … He said, the project is the anchor industry for a sector specific SEZ for establishment of downstream industries in sectors like high quality paint manufacturing, automotive casting, ductile iron casting, sillicon and zircon based products.

Patnaik said, the upcoming port at Gopalpur and the integrated titanium complex are the foundations for an industrial corridor in southern Orissa. These will further be integrated with the aluminium hinterland in Kalahandi, Koraput anfd Raygada. For the purpose, he has requested the railway ministry to take up the Therubali-Gunupur railway connectivity at the earliest.

Stating that establishment of a quality vocational educational institution offering the most modern trades relevant for the industry will be an important initiative in the skill upgradation of the local youth, Patnaik said, TPPL should explore such possibility. Besides, it should develop partnership with the local technical institutions.

Arcelor-Mittal aims for a captive port in Barunei Muhana, Kendrapada: Samaja

Arcelor Mittal, Barunei, Kendrapada (many interested), Kendrapada, Samaja (in Oriya) No Comments »

Supreme court allows bauxite mining by Vedanta/Sterlite

Aluminium, Bauxite, ENVIRONMENT, Kalahandi, Pragativadi, Supreme Court, Vedanta No Comments »

Following is an excerpt from a report in Pragativadi.

The Supreme Court on Friday cleared the decks for Anil Agarwal promoted Vedanta Resources to mine bauxite from the ecologically fragile Niyamgiri hills for its proposed Rs 4,000-crore alumina project at Lanjigarh in Kalahandi district.

Vedanta had sought clearance for diversion of 660.749 hectare of forest land for mining purposes to feed its alumina plant.

The special forest bench comprising Chief Justice K G Balakrishnan, Justices Arijit Pasayat and SH Kapadia allowed Sterlite to go ahead with bauxite mining.

The application of Vedanta is allowed, the Supreme Court bench said in a statement. 

However, it asked the ministry of environment and forest to proceed in accordance with law.

… Vedanta wants to dig open-cast mines in the Niyamgiri hills located in Kalahandi district near its project area. 

Vedanta promoted Sterlite Industries had sought clearance for diversion of 660.749 hectares of forest land for mining purposes to provide required raw material for its plant.

Supreme court comes in favor of POSCO

Iron Ore, Jagatsinghpur, Jatadhari port (POSCO), POSCO, Paradip - Jatadhari - Kujanga, Pragativadi, South Korea, Steel, Supreme Court No Comments »

Following is an excerpt from a report in Pragativadi.

The Supreme Court on Friday permitted South Korean steel major Posco to set up Rs 51,000-crore mega steel plant and captive minor port at Paradip in Jagatsinghpur district.

A special environmental bench headed by Chief Justice K G Balakrishnan allowed Posco India Pvt Ltd, a subsidiary of South Korea-based Posco, to go ahead with its plans.

With this order, the apex court has also cleared forest diversion proposal for the plant site which require 1253.225 hectares of forest land.

The court, while directing the Orissa government to dispose of all the Posco’s applications seeking prospecting licences within four weeks, also asked the state government to send its recommendations to the ministry of environment and forests that would proceed in accordance with law.

The bench also asked the state government to undertake implementation of compensatory afforestation plan under the supervision of a Supreme Court-appointed committee comprising top officials of the state government.

… Posco counsel Mukul Rohtagi contended that the state government-owned Orissa Mining Corporation had agreed to supply uninterrupted iron ore and other minerals for its steel project and had identified mines in the western part of the state, some 300 km away from its project site.

… The company can source raw materials on its own and can buy the same from the open market, he said, adding that the company is not dependent on prospecting licence.

3 Aluminum projects approved by SLSWCA

Aluminium, Multinationals, NALCO 1 Comment »

Following is an excerpt from a report in Business Standard.

The State Level Single Window Clearance Authority (SLSWCA) of the Orissa government, headed by Chief Secretary, Ajit Kumar Tripathy, today approved projects worth Rs 42,911crore mainly pertaining to the aluminium sector.

It includes the Rs 16,345 crore investment proposal of the National Aluminium Company Ltd (Nalco), Rs 19,668 crore proposal of L&T-Dubal, Rs 6800 crore proposal of RSB Metaltech and Rs 98 crore investment proposal of Kanpur based Bajaj Steels and Industries Ltd.

Vedanta’s steel plan for Orissa

Keonjhar, Steel, Vedanta No Comments »

Following is from a report in SteelGuru.com.

It is reported that Vedanta has started land acquisition for its first ever steel venture at Keonjhar in Orissa. It also hopes to start its third aluminum smelter in India by the end of June 2008. Once in place, the group’s smelter capacity would go up to almost 1 million tonne.

Vedanta has already floated an outfit called Sterlite Iron & Steel Company for undertaking the INR 12,500 crore project in Orissa and has identified 3,000 acres for the proposed 5.1 million tonne venture.

Official sources said that "This project will be like a forward integration for the group in Orissa as Sesa Goa has iron ore mines in the state which could be utilized for the project. The preliminary planning is on for an integrated environment management program and production requirements."

The source added that "Vedanta is investing INR 8,400 crore in phases in this project. The smelter will have a capacity of 50,000 tonne per year In the first phase, 25,000 tonne and a portion of 1215 MW captive power plant will be operational. The total employment in the project will be around 6,000 people."

Supreme court puts stringent condition for mining lease to Sterlite/Vedanta: People benefit

Bauxite, ENVIRONMENT, Kalahandi, Vedanta No Comments »

Following is an excerpt from a report in sify.com.

An environment regulatory committee set up by the Supreme Court has recommended a stringent mechanism for granting mining lease to Sterlite Industries, the parent company of the London-based Vedanta Alumina Ltd, to mine bauxite from the eco-sensitive Niyamgiri hill area for its proposed Rs 4,000 crore aluminium project in Orissa.

As against the plea by the Sterlite India, the Central Empowered Committee suggested that the majority 51% share in the special purpose vehicle — ‘Lanjigarh Scheduled Area Development Foundation’ — should be with the Orissa government and 24.5% each should be with the Orissa Mining Corporation (OMC) and Sterlite.

The Sterlite had suggested that its own share should be 49%, while the Orissa government and OMC should hold 26% and 25%, respectively.

A bench of chief justice K G Balakrishnan, justices Arijit Pasayat and H S Kapadia directed Sterlite and the Orissa government to file affidavits on the formation and constitution of the special purpose vehicle.


Sterlite has sought direction from the court to accord clearance of the forest diversion proposal submitted by Orissa Mining Corporation for diversion of 660.749 hectare of forest land to undertake bauxite mining on Niyamgiri Hills in Lanjigarh for its Rs 4,500 crore Alumina plant in Orissa.

Sterlite has agreed to give 5% of the annual profits before tax and interest from the Lanjigarh project, consisting of bauxite mining and alumina refinery, or Rs 10 crore per year, whichever is higher, to the Foundation every year from April 1, 2007.

Sterlite also said it would make a payment of the net present value (NPV) of Rs 55 crore and Rs 50.3 crore towards wildlife management plan for conservation and management of wildlife around the Lanjigarh mine and Rs 12.2 crore towards development for the tribal people.

The committee said there has to be a balance between conservation and development. “The balance between these two would thus lie in permitting conservation not merely for private profit but in a manner that maximises the public interest component in the activity,’’ it said. …

POSCO agrees to contribute towards Paradeep-Haridaspur doubling: Sambada

Haridaspur - Paradeep (under constr.), Jagatsinghpur, Jajpur, Kalinganagar- Chandikhol- Paradip, Kendrapada, POSCO, Paradip - Jatadhari - Kujanga No Comments »


POSCO mentions downstream anciliary units

Jagatsinghpur, POSCO, Paradip - Jatadhari - Kujanga, Steel ancilaries No Comments »

Following is an excerpt from a report in Pragativadi.

… the new Director of Posco-India, Yong Keun Kim, is however, optimistic about his plans for downstream industries.

… His recent meeting with IPICOL managing director, Ashok K Meena, has unfolded the road map of Posco on downstream and ancillary industries.

Talking to reporters here on Tuesday, he said that Posco’s greenfield project near Paradip would create enormous opportunities for developing ancillary and downstream units close to the steel plant.

Some of the units that are likely to come up, include automobiles, shipbuilding, fishing vessel, heavy fabrication and downstream heat and coil processing, reveals the document.

There is a vast scope of indirect employment opportunity once the ancillary industries are set up in the area, the document says.

Posco has requested the state government for a piece of land near Paradip to set up the facilities.

A detailed project report (DPR) is being prepared by the company, in which investors from South Korea would join for setting up downstream and ancillary projects.

Arcelor Mittal’s plan of Rs 1200 crores for R & R

Arcelor Mittal, Keonjhar, R & R, Steel 1 Comment »

Following is an excerpt from a report in Business standard.

Global steel major ArcelorMittal, who is proposing to set up a 12 million tonne greenfield steel plant at Patna tehsil in Keonjhar district of Orissa, plans to spend about $300 million (about Rs 1,200 crore) on rehabilitation and resettlement (R&R). …

ArcelorMittal has presented its R&R plan to the Keonjhar district administration. It plans to spend the earmarked amount over a period of more than five years.

"We plan to spend about $300 million for the R&R plan over a period of more than five years. The R&R plan has already been submitted to the Orissa government," ArcelorMittal India chief executive officer (CEO) Sanak Misra said.

After meeting Orissa chief minister Naveen Patnaik along with Sudhir Maheshwari and Vijay Bhattanagar, the members of ArcelorMittal’s group management board, in the state secretariat today, Misra told the media that their steel plant will come up in two phases of 6 million tonne each. He said the R&R plan of the company was in conformity with the R&R policy of the Orissa government.

The plan envisages dwelling units for each of the displaced family with common facilities. The rehabilitation colonies will have water supply, educational institutions and primary health centres (PHCs).

As per the R&R plan, the company will set up a state-of-the-art industrial training institute (ITI) beside the steel plant. It is in discussion with three leading institutes of the country having previous experience in handling ITIs.

The model, including student strength and the cost of setting up of the ITI, is being worked out. Misra, however, made it clear that the ITI would come up before the commissioning of the plant. The company was in discussion with the state government for the required land, he said.

Official sources said, the company planned to apply the highest standards of corporate social responsibility (CSR) for the Orissa project and intended to make the R&R policy the backbone of the CSR strategy.

Misra said a detail project report (DPR), prepared by M N Dastur & Company (P) Ltd (Dasturco), was being finalised. It would be submitted in June, 2008, he added.

The DPR includes captive mining facilities, captive power supply, water supply infrastructure and other required facilities. It also includes setting up of townships for the company’s employees.

The ArcelorMittal CEO also expressed his satisfaction over the land acquisition, saying that it was making good progress.

The company had signed an MoU with the Orissa government in December 2006 for setting up a steel plant at an investment of about Rs 40,000 crore.

Vedanta Aluminium signs MOU with Apollo for two units at Lanjigarh and Jharsuguda

Anil Agarwal, HEALTHCARE and HOSPITALS, Jharsugurha, Kalahandi, Vedanta 2 Comments »

Following is an excerpt from a news report in Pioneer.

Vedanta Aluminium Limited signed an MoU with the Apollo Health & Life Style Limited on Tuesday to open two units of The Apollo Clinics at Lanjigarh and Jharsuguda.

The MoU was signed at the Vedanta office in Bhubaneswar by M Siddiqi, Director and CEO, Aluminium Sector, Vedanta Group, and Ratan Jalan, CEO, Apollo Health & Life Style Ltd, in the presence of Vedanta Aluminium CFO Virendra Agrawal, GM and Head, PR & CSR, Prashanta Hota and other officials form both sides.

The MoU deals with the establishment and management of the two well-equipped Apollo Clinics, which would be fully supported by Vedanta Aluminium. Funded fully by Vedanta, the two units have accepted the responsibility of recruiting doctors, providing all kinds of diagnostic facilities, specialist treatment, extending other modern healthcare facilities and running the clinics at both locations.

Involving a total investment of about Rs 5 crore, the day-to-day operations would also be fully funded by Vedanta.

Besides rendering quality healthcare services to the project-impacted people and employees of Vedanta Aluminium and their dependents, the clinics would be running a Sick Bay Unit in the plant premises and regularly conduct Outreach Programmes in the periphery villages.

Maytas and Orissa

Aluminium, Anil Agarwal, Jharsugurha, Jharsugurha- Brajarajnagar- Belpahar, Others, Satellite and Residential townships, Thermal, Vedanta No Comments »

Following is extracted from a report in sify.com.

Maytas Infra Ltd (MIL) is an infrastructure development, construction and project management company with more than two decades of experience in execution of complex & challenging landmark projects across the country. The company recently forayed into segments such as airports, seaports, oil and gas pipelines. MIL plans to diversify into new verticals like mining and related activities, manufacture of construction material and providing advisory & consultancy services.

… MIL’s new projects include railway siding project for Vedanta Industries in Orissa, Chennai MT Project & Hyderabad MRTS project.

… Its current projects include Vedanta Aluminium’s, Residential Township in Orissa worth Rs. 232.7 crore …

… MIL in JV with other firms is currently working on setting up 464MW Gas based Gautami Power project in AP, 100MW Sorang Hydro Power Project in Himachal Pradesh, 300MW KVK Nilachal thermal power project in Orissa and 56MW coal washery reject based SV Power project.

 

 

Vedanta news: IPO for Sterlite energy; plans for a steel plant in Keonjhar

Anil Agarwal, Keonjhar, Steel, Thermal, Vedanta 1 Comment »

Following are some excerpts.

Business Standard:

Non-ferrous metals giant Vedanta Resources is planning to enter the Indian steel sector with a 5 million tonne plant at an investment of about Rs 24,000 crore in Keonjhar district of Orissa and envisaging its commissioning by 2012-13.

"We are impressed at the growing consumption of steel in India and are keen to enter its steel sector. We are planning to build a 5 million tonne steel plant at Keonjhar district of Orissa. If we find a suitable partner, we should be able to commission it by 2012-13 at an investment of about Rs 24,000 crore," company sources said.

Sify.com:

Vedanta Resources is planning to make an initial public offer (IPO) to raise $1 billion for Sterlite Energy, a subsidiary of its group company and Indian non-ferrous metals producer Sterlite Industries (India) Ltd.

"We are planning for a $1-billion IPO for Sterlite Energy in the next few months," Vedanta Resources Chairman Anil Agarwal told reporters here Wednesday.

… Agarwal said the London Stock Exchange-listed Vedanta Resources is also considering options to sell shares via a pre-IPO placement.

He added that the company plans to participate in coal-based power generation projects through the subsidiary, Sterlite Energy Ltd.

"We are looking at 10,000 MW commercial power generation by 2012," he said. The power plants are likely to be set up in Orissa and Jharkhand, he said.

POSCO’s Socio-economic impact on Orissa: an ad in Samaja

Iron Ore, Jagatsinghpur, Jatadhari port (POSCO), POSCO, Paradip - Jatadhari - Kujanga, Samaja (in Oriya), Steel No Comments »


Samaja: Posco land acqusition - ID card holders to get stipend till plant opens; R & R for encroachers

Iron Ore, Jagatsinghpur, Land acquisition, POSCO, Paradip - Jatadhari - Kujanga, R & R, Samaja (in Oriya), Steel No Comments »


Mittal gets administrative sanction to acquire land - first step in land acquisition

Arcelor Mittal, Keonjhar, Land acquisition, Orissa govt. action, R & R, Steel, TOI, Economic Times No Comments »

Following is an excerpt from a report in Economic Times.

The Orissa government has given administrative sanction for acquiring land at Patana tehsil in Kenojhar district for Arcelor-Mittal’s proposed 12 million tons per annum steel plant.

The company … has already deposited Rs 4.03 crore with the Industrial Development Corporation (IDCO) as processing fee for phase-I land acquisition.

The government has also appointed a nodal officer to oversee land acquisition process and other issues concerning the company’s greenfield project, said Steel and Mines Minister Padmanabha Behera.

Arcelor-Mittal is understood to have sought nearly 8,000 acres of land for the purpose and the state is believed to have agreed to the request.

The government has, however, cleared acquisition of only 1,224 acre of land spread over three villages like Angikala, Baradangua and Bhrungaraj under Patana tehsil in the first phase of land acquisition.

The 1,224 acres demarcated for the first phase acquisition comprised 431 acres of government land and 739 acres belonging to private owners.

While the government had fixed price per acre of state land at Rs two lakh, it was yet to decide cost of private land which would be fixed according to rehabilitation and resettlement policy.

IBM announces launch of SMB operation in Orissa

Bhubaneswar- Cuttack- Puri, IBM, IT, Kalinga Times, Khordha, MSE - medium and small enterprises No Comments »

This appears in various news media. Following are excerpts from a report in Kalinga Times.

… IBM India on Wednesday announced the launch of its SMB operations in Bhubaneswar .

This expansion will enable IBM to provide better support to SME clients in and around Bhubaneswar and help IBM’s customers leverage IT for business growth.

In addition, mid-market businesses will also benefit from the new IBM Express Advantage initiative that provides SMEs with a unified end-to-end approach to help them innovate and expand.

…Earlier this year, IBM had announced a plan to extend its presence to 14 cities outside of the key metros, and has successfully launched operations in Bhopal , Chandigarh , Coimbatore , Cochin , Goa, Jaipur, Jamshedpur , Lucknow , Nagpur , Nashik, Surat , and Vizag. It will look to expand into Ludhiana and Madurai as well.

… IBM’s SME offerings have already been accepted in various industries and organisations. Some existing customers in Bhubaneswar include, Government of Orissa IT Department - OCAC, Dept of Treasury Orissa, Paradeep Phosphates Ltd, Vedanta Alumina Ltd, Kalinga Institute of Industrial Technology, Biju Patnaik University of Technology, and Utkal University to name a few.