{"id":956,"date":"2007-11-07T21:01:21","date_gmt":"2007-11-08T01:01:21","guid":{"rendered":"http:\/\/www.orissalinks.com\/orissagrowth\/?p=956"},"modified":"2007-11-07T21:02:17","modified_gmt":"2007-11-08T01:02:17","slug":"mittals-would-like-to-tie-up-with-orissa-mining-corp-toi","status":"publish","type":"post","link":"https:\/\/www.orissalinks.com\/orissagrowth\/archives\/956","title":{"rendered":"Mittals would like to tie up with Orissa Mining Corp. : TOI"},"content":{"rendered":"<p>Following is an excerpt from <a href=\"http:\/\/timesofindia.indiatimes.com\/Business\/India_Business\/Mittal_seeks_tie-up_with_Orissa_Mining_Corporation\/articleshow\/2526862.cms\">a report in Times of India about this<\/a>.<\/p>\n<blockquote><p>&#8230; &#8220;We have received a proposal from Arcelor-Mittal, requesting for an arrangement with OMC,&#8221; confirmed a senior officer. &#8220;The government is exploring the possibilities and details remain to be worked out. It could mean a long term agreement or a joint venture between the two parties,&#8221; the officer told TOI. The government, sources said, has set up a four-member committee headed by chief secretary to examine the proposal&#8217;s feasibility and chalk out the draft terms and conditions.<\/p>\n<p>Sources said Arcelor-Mittal is yet to submit any application for prospecting lease or mining lease for any iron ore deposits, but evidently does not want to take chances. Hence, it has proposed a tie-up with the state-owned body to serve as a back-up. &#8220;The company would no doubt go for captive mines. The pact with OMC would ensure an alternative raw material arrangement for the company&#8217;s project,&#8221; sources pointed out. Orissa has so far inked pacts for 46 steel facilities, sparking doubts over iron ore scarcity in future.<\/p>\n<p>Arcelor-Mittal, which has signed an MoU with the state government to set up a 12 MTPA steel plant at an investment of Rs 40,000 crore, is the first major player to make this kind of a proposal. Some small steel units had earlier sought to enter into raw material supply agreements with OMC, apparently to ensure a steady flow of iron ore and offset price fluctuations. Some steel plants, which have reached production stage, are buying ore from the market at higher prices, sources disclosed.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Following is an excerpt from a report in Times of India about this. &#8230; &#8220;We have received a proposal from Arcelor-Mittal, requesting for an arrangement with OMC,&#8221; confirmed a senior officer. &#8220;The government is exploring the possibilities and details remain to be worked out. It could mean a long term agreement or a joint venture [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[162,128,19,308,66],"tags":[],"class_list":["post-956","post","type-post","status-publish","format-standard","hentry","category-arcellor-mittal","category-iron-ore","category-district-keonjhar","category-omc","category-industry-steel"],"_links":{"self":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts\/956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/comments?post=956"}],"version-history":[{"count":0,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts\/956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/media?parent=956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/categories?post=956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/tags?post=956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}