Date:12/09/2006 URL: http://www.thehindu.com/2006/09/12/stories/2006091207961700.htm

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Business

Mittal seeks Centre, States' cooperation

Special Correspondent

Shekhawat inaugurates Diamond Jubilee celebrations of the IIM

New mineral policy by next winter session of Parliament

MoU for Orissa and Jharkhand projects to be signed within two months

PHOTO: RAJEEV BHATT

MINE AND PROSPER: The Vice-President Bhairon Singh Shekhawat, flanked by B. Muthuraman (right), Managing Director, Tata Steel, and A. C. Wadhwa, Chairman, IIM, unveiling a souvenir in New Delhi on Monday.

NEW DELHI: Even as Orissa exuded confidence that it could clinch an agreement with Mittal Steel on a $7-billion steel plant by November, the world's largest steel maker expected some more commitments from the Central and State governments in relation to the project.

"Our desire to be here (in India) is considerable. It will take a lot of hard work from both governments at the Centre and States on our project,'' Mittal Steel (India) CEO Sanak Mishra said, delivering a lecture at the Diamond Jubilee function of the Indian Institute of Metals here on Monday. Mittal Steel, which has proposed two identical 12 million tonne projects in Orissa and Jharkhand, said that India should make it easier for investors to invest in the country.

Earlier, Orissa Minister for Steel and Mines Padmanabha Behara said: "The MoU would be through once Mittal Steel acquires 3,000 acres it has sought from the State Government.''

He said the global memorandum of understanding (MoU) with Mittal Steel was likely to be signed within the next two months. Mittal Steel was likely to use either the Paradip Port or the upcoming port in Gopalpur being built by the Orissa Government for its steel project.

Minister of State for Mines T. Subbirami Reddy told media persons that the new mineral policy was likely to be in place by the winter session of Parliament and envisaged that the nation would draw FDI of about Rs. 30,000 crore in the mines sector year-on-year.

PTI reports:

Tata Steel Managing Director B. Muthuraman said the country had the potential to consume more and more steel in the foreseeable future but the major constraints in realising the potential were inadequate infrastructure and insufficient iron ore and coal.

On sustainable mining

Aarti Dhar reports:

Earlier inaugurating the Diamond Jubilee celebrations, Vice-President Bhairon Singh Shekhawat called upon the scientists and engineers to focus on researches in sustainable mining practices. He said the stress should be to establish appropriate linkages between mining and the prosperity of the people.