ArcelorMittal's mega project on track

“The State government issued final notification on May 7 and soon the job of measuring the land will jointly carried out by the department of survey and land owners,” Murugesh Nirani, State Heavy Industries Minister told Deccan Herald here on Wednesday.

A committee headed by Bellary deputy commissioner will decide on the compensation to be paid to the land losers. The Government has proposed to give 20 per cent above the current market value, as compensation. Besides, the Government will also ensure that one person from each land losers’ family gets a job in the upcoming plant, he said.

Of the 5,000 acre land, 4,000 acres will be given to the company and the remaining will be set apart for township and ancillary units.

The company has already paid Rs 60 crore to the Government towards the cost of the land as the first installment and has agreed to pay the rest of the amount, once the remaining process of acquisition is completed, which is likely to take place by this month-end.

Chief Minister B S Yeddyurappa has invited ArcelorMittal Chairman Lakshmi Mittal as the chief guest for the Global Investors’ Meet scheduled in the first week of June. The State government hopes to enter into an agreement with ArcelorMittal during the event.