TATA Steel raises flag on iron ore mine allotment in Jharkhand

Jharkhand : The Telegraph reported that TATA Steel has threatened to abandon a INR 40,000 crore plan to set up a 12 million tonne per annum steel plant in Jharkhand if the state government did not act on its application of a fresh iron ore lease.

As per report, Mr Sanjiv Paul VP corporate services of TATA Steel articulated the company’s stand in no uncertain terms to Jharkhand chief secretary Mr SK Choudhury, who was chairing a high powered committee meeting to review progress of industrial projects for which MoUs had been signed.

Mr Prabhat Sharma head of corporate affairs in TATA Steel said that “The company has been requesting the state government to allocate new iron ore mines to feed its Greenfield as well as Brownfield projects, but to no avail so far. As per the MoU, the company was promised iron ore mines with production capacity of 400 million tonne. But the Ankua reserve allotted to TATA Steel in 2007-08 has a deposit of about 80 million tonne only.