Tata pulls out of Haveri steel plant project

Tata pulls out of Haveri steel plant project

 Major Industries Minister R V Deshpande said Tata Metaliks Ltd has withdrawn its Rs 15,000-cr steel plant project from Haveri.

He said in the Assembly that last October, Tata Metaliks informed the government that the project had become unviable because of non-availability of mines and iron ore. It has requested the government to refund the money paid for allotment of land. The government is examining the request.

The company had planned to establish a 3 MTPA integrated steel plant with an investment of Rs 15,000 crore on 2,500 acres of land in various villages in Haveri taluk. The project was cleared by the State High Level Clearance Committee. A preliminary notification on land acquisition was issued in 2010. 

The minister gave details in reply to questions raised by Basavaraj N Shivannanavar (Cong). The MLA said farmers who parted with land are struggling to get compensation.

Deshpande said only companies with captive mines can set up steel plants. Since the company has no mines, it has withdrawn the project, he said.


Comments (+)