Tata Steel is sitting on 500-600 MT of iron ore in Orissa and asking for more?
Iron Ore, Jajpur Rd- Vyasanagar- Duburi- Kalinganagar, Steel, Tatas October 3rd. 2007, 3:10pmFollowing is an excerpt from a ndtvprofit.com report.
… According to sources the company is sitting on iron ore reserves of over 500-600 mt and that could be a reason why the state may not be keen to hand over more reserves to Tata Steel.
While this could trigger a fresh round of battle between Tata Steel and the Orissa government, the later is clear that it wants investments in the state for the reserves it will hand out.
Orissa wants Tata Steel to set up the promised greenfield project of six mt steel plant in Kalinganagar in order to reach Orissa’s target of 75 mt of steel capacity by 2020.
Tata Steel in return wants iron ore mines for plans not just in Orissa but also for expansion in Jharkhand aimed at 12 mt steel plant and Jamshedpur to be expanded to 10 mt from 5 mt currently. …
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