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Old February 6th, 2010, 10:35 AM   #61
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Bangalore: KIOCL to Set Up Steel Factory in State

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Bangalore, Feb 6: The Kudremukh Iron Ore Company Limited (KIOCL) is planning to set up steel factory investing Rs 8,000 crore in the state.

Company president K Ranganath said that the factory will be started on a partnership basis, the location for which has not yet been finalized. He was addressing the reporters at the second annual day celebrations of Vigilance Study Circle here.
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Old February 6th, 2010, 10:53 AM   #62
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KIOCL is planning to have DISP plant of capacity 1 lakhs tons in Mangalore in their existing land. I don't think they have got enough land in Mangalore for an Integrated Steel Plant of the size 15 MTA. It looks like they need more land also for downstream and ancillary industries. And also there is environmental problem for another 8 months.

But in case they are planning for export then they can even think of having a separate port along coast. Water should not be a problem. As pointed out by Arul Murugan coastal regions have option of using desalinated water.
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Old February 6th, 2010, 11:20 AM   #63
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Karnataka to notify land for Mittal plant at Bellary today

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Bangalore, Feb 5 (PTI) :Karnataka will set in motion today the process of acquiring 4,800 acres in Bellary for the mega steel plant being set up by ArcelorMittal, a top official said.

"The government has approved the land acquisition at Kudathini in Bellary district and the preliminary notification will be issued tomorrow in the state gazette", state principal industry secretary VP Baligar told reporters on the sidelines of a function here.

ArcelorMittal plans to set up a Rs 30,000-crore steel plant with 6mtpa capacity and also a 750mw captive power generation unit, he said.

"We had kept everything ready. Their team visited the place for third time yesterday and said these villages are fine. As soon as they gave me the green signal this morning, we got the approval from chief minister BS Yeddyurappa and we have notified these lands", he said.

Mittal had evinced interest in 4,800 acres located near a Karnataka Power Corporation project, Baligar said adding the land is ready and "we will lend immediately to Mittal."

The Mittal investment would entail job generation of over 10,000 in the long-term, he said.
Mittal's firm had earlier evinced interest to locate their plant at Bijapur, but later chose Bellary, an iron ore rich district, which the government accepted.

Replying to a question on Korean Posco Steel's interest in setting up a plant in the state, Baligar said, "a team had come, they had discussions and we are hopeful. The company was looking at land around Bellary. "But they have not decided".

On mines for these steel plants, he said some mining area in Bellary has been notified. Other mines are also open for application. "They have applied and it has to be decided," he said. In terms of provision of water, he said part of it will come from the Tunghabadra dam and other from the Upper Krishna.

Meanwhile he also said Hero Honda evinced interest to set up a plant entailing an investment of Rs 200 crore, he said, "a team had come, they have seen three sites, one in Hubli and two in Dharwad".

The Hero Honda would require 100 acres for themselves, and 200 acres for ancillaries and may be 100 acres for a township in the long term too, he said, adding however that nothing has been finalised.

Egyptian company Kapsci Coating, which was interested in seeting up a plant for paints, had also been looking for land near Bangalore. "They have seen two-three sites, they will get back to us", he said.
DHNS

What does he mean by land is ready and we will lend them soon??Are the lands under KIADB's possession or they still have to negotiate with the farmers and face JD(S) wrath??
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Old February 9th, 2010, 05:35 AM   #64
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Sumitomo JV heads to Karnataka

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MUMBAI/BANGALORE: Sumitomo Metal and Bhushan Steel, which had recently agreed to build a steel project jointly in West Bengal, are now understood to be looking at Karnataka as a second destination, as the southern state is increasingly seen as being easier to operate compared to other traditional steelmaking states. If successful, the Sumitomo-Bhushan Steel duo may join a growing list of large steelmakers, including ArcelorMittal and Posco, who have opted for Karnataka after being frustrated in their efforts to build a steel plant in eastern states Jharkhand and Orissa, respectively.

“There is an invitation from the Karnataka government and we are evaluating the proposal ,” said Bhushan Steel chief financial officer Nittin Johari. “But we are also progressing reasonably well in West Bengal and are in the process of acquiring land there,” he added.

Japan’s Sumitomo, the world’s sixthlargest steel producer, had signed a technology transfer agreement with Bhushan Steel in December last and had also expressed interest in jointly building the proposed 6-million tonne steel plant in Asansol in West Bengal.

But inordinate delays for various proposed steel projects in states such as Orissa, Jharkhand and Chhattisgarh due to lack of clear rehabilitation policies from the state governments and slow mine and water linkages, have prompted companies such as Arcelor-Mittal and Posco to relook at other options, including Karnataka. Sources familiar with the developments at Sumitomo said this factor may also have led the Japanese company to agree on the quantum of equity participation in the West Bengal project.

Karnataka with an estimated 3.5 billion tonnes of iron ore reserves located largely in the three districts of Bellary, Raichur and Koppal , hasn’t seen any mega steel plant, except the Sajjan Jindal-controlled JSW Steel that is located at Thoranagallu, in Bellary.

ArcelorMittal and Posco have expressed interests of putting up 6 MT plants each in Karnataka and have already entered into negotiations with the state government. The estimated investments by both these companies is likely to cross Rs 60,000 crore. A Karantaka government official told ET that Sumitomo might also look at setting up a steel plant with a capacity in the range of 3-6 MT.

However, the process of setting up steel plants in Karnataka is expected to be lengthy as the government has to meet supplies on three vital criteria: captive iron ore mines, large tracts of land and abundant water. These parameters could become vexing as the government faces challenges on all these counts. Both ArcelorMittal and Posco have sought steady access to a captive iron ore mine, while there is already a long list pending with the state government, with companies such as NMDC, Kudremukh Iron Ore and JSW already waiting for mine allocation.

Similarly, availability of water could also become another challenge as the three districts where iron ore reserves are located, are traditionally rainfall deficient. However, the state government official said that Arcelor-Mittal has already agreed to build its plant on 4,000 acres land in Bellary district.
Source: ET
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Old February 10th, 2010, 04:36 PM   #65
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Surya Roshni to invest Rs 20k cr to set up steel, power plants

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NEW DELHI: Lighting major Surya Roshni today said it will invest Rs 20,000 crore in the next few years for setting up steel manufacturing and power plants, through an associate company.

"We are planning huge expansions for the Surya Group. We are planning to set up a 1,000 MW power plant and a steel plant with a capacity of 5 MT per annum, both in Karnataka," the company's Chairman and Managing Director J P Agarwal told reporters here.

He said the total investment in these two projects would be around Rs 20,000 crore, which the company will raise through a mix of debt and equity.

"We will also bring an IPO (initial public offering) for these projects which will be operated through a different company called Surya Vijaynagar Power and Steel and we will also rope in foreign investors for the purpose," Agarwal said.

However, he declined to give further details saying that specifics are yet to be worked out.

Surya Roshni also announced the launch of energy efficient T5 and T8 tubelights, which it claims can save up to 85 per cent power.

Speaking about the company's other plans, he said Surya is also setting up two steel pipe manufacturing plants in Gujarat and Madhya Pradesh with a total investment around Rs 550 crore.
Source: ET

Mostly in Ballari.
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Old February 10th, 2010, 04:42 PM   #66
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Originally Posted by Krishnamoorthy K View Post
Source: ET

Mostly in Ballari.
Krishnamoorthy has it been mentioned that it would come up in Bellary??
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Old February 10th, 2010, 04:48 PM   #67
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Originally Posted by engineer.akash View Post
Krishnamoorthy has it been mentioned that it would come up in Bellary??
Check my first post where all steel companies are listed. In one of news reports I found that it would be in Ballari.
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Old February 11th, 2010, 06:14 AM   #68
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Tata Metaliks

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Mr. Nirani, who visited the Tata’s Steel Plant at Jamshedpur, said Tata Metaliks Ltd would set up a three-million-tonne capacity steel plant in Haveri district with an investment of Rs. 15,000 crore on 2,000 acres of land. The State High Level Clearance Committee (SHLCC) in its meeting held last month has approved the project.
Source: The Hindu
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Old February 12th, 2010, 05:51 AM   #69
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Steel ministry to revive KIOCL; merger plan shelved for now

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Bangalore: The Union steel ministry may not go ahead with the proposal to merge KIOCL (formerly Kudremukh Iron Ore Ltd) with another PSU NMDC, sources in the ministry said. The ministry has decided to revive the ailing KIOCL by getting a new captive iron ore mine.

‘‘Although it has not been announced officially, the ministry has decided not to merge the two companies,’’ a top official attached to the steel ministry told FE, requesting anonymity. The ministry’s decision comes after the Ganesan committee submitted its report advising against the merger in September 2009, the official added.

The steel ministry had accorded top priority to the revival of KIOCL in its 100-day agenda unveiled in June 2009 and accordingly, the committee was formed under the leadership of P Ganesan, former chairman & managing director of KIOCL, to come out with a report on the possibilities of merger of a few sick PSUs.

The ministry’s proposal was to merge KIOCl with NMDC through a share-swap arrangement. In line with the proposal, both KIOCL and NMDC should divest stake in each other and the former will become the subsidiary of the later.

Talking to FE, KIOCL chairman & managing director K Ranganath said, “I think merging of NMDC and KIOCL is a closed chapter. So far, we did not receive any communication from the steel ministry regarding the merger. Ganesan committee clearly told that there is no synergy in merging the two companies.”

KIOCL suspended iron-ore mining at Kudremukh site located in Western Ghats in December 2005 following a Supreme Court directive. Since then, the company has been procuring iron-ore from NMDC to run its pellet plant in Mangalore.

However, with the steel ministry shelving off its plans on merging the company with NMDC, KIOCL has taken a step to ensure survival on its own. The company has identified a potential partner to set up an integrated steel plant in Karnataka. Once the joint venture agreement was signed, the company would approach the Karnataka government to get captive iron-mines for the steel plant in the state, the CMD of KIOCL added. Already, the KIOCL has applied to the Karnataka government to allot mines in Ramanadurga and Chikkanayakanahalli taluks in the state to run its existing pellet plant.

The state government has approved KIOCL for mining in Chikkanayakanahalli, but the company is waiting for some other environmental clearance to mine there.
Source: FE
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Old February 13th, 2010, 05:30 AM   #70
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ArcelorMittal, Posco likely to get mega sops for Karnataka projects

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Bangalore: The world’s largest steel makers, ArcelorMittal and South Korean steel giant Posco, are likely to get bumper sops for their proposed mega integrated steel plant projects in Karnataka.

“As per the existing state industrial policy, standard incentives are available. In addition to these, for mega projects investing more than Rs 1,000 crore, special incentives can be given,” VP Baligar, principal secretary, commerce & industry, Karnataka government, told FE. “They (Arcelor Mittal and Posco) did not ask us, but the government will offer them possible incentives,” he added.

Baligar also said the government would consider giving tax incentives like refund of tax and that the government would decide the period and volume of concession based on the investment. “The higher the investment, the higher the concession,” he said.

The state government had last month formally cleared the steel plant proposals of Posco and ArcelorMittal. Posco would invest Rs 32,300 crore to establish a steel manufacturing facility to produce 6 million tonne per annum (mtpa) while ArcelorMittal would invest Rs 30,000 crore for a 6-mtpa capacity plant in Karnataka.

While the state government had earlier allotted 4,000 acre in Bijapur district to Arcelor Mittal, the state had later increased the allocation to 4,900 acre at Kudithini, Bellary district. Arcelor Mittal, on its part, was keen on securing land in the iron-rich Bellary district.

A special package of incentives, over and above the standard package, will be offered to mega projects, based on the recommendations of a state high-level committee, headed by the chief minister, said an official in the Karnataka Udyog Mitra, the government-owned single window agency promoting industries in the state, requesting anonymity. The chief minister will announce the special packages for the ArcelorMittal project during the global investors’ meet, to be held in Bangalore in the fist week of June, the official added.

ArcelorMittal and Posco are the two largest projects (in the above-Rs 30,000-crore category) coming to Karnataka after the state government had announced its 5-year industry policy in 2009.

According to the Karnataka Industrial Policy 2009-14, the government offers concessions and incentives by dividing each taluk in the state into four zones. Kudithini village in Bellary taluk, where ArcelorMittal had been allotted land, comes under Zone 3 category—under the backward taluk class, the Udyog Mitra official said.

ArcelorMittal’s project would get 100% exemption from payment of entry tax on plant, machinery and capital goods for an initial period of 3 years from the date of commencement of the project. The entry tax exemption on raw materials, component parts and consumables is offered for a period of five years from the date of commencement of commercial production. In addition, any project with an investment of more than Rs 3,000 crore and with over 1,250 employees in zone 3 (Bellary taluk) would get an interest-free loan on VAT. In this case, it would be 25% of assessed gross VAT for the initial 12 years, subject to a maximum of 50% of the total value of fixed assets. The loan should be repayed in in five annual installments after 12 years.

In the case of Posco, the company has not yet chosen the land. However, the government expects the South Korean steel major to select a site in any one of the districts like Bellary, Koppal, Bagalkot, Haveri, Gadag and Raichur. Taluks in all these districts are categorised either under the backward or the most backward classes—and this will mean a higher benefit for manufacturing projects.
Source : FE
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Old February 16th, 2010, 11:39 AM   #71
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Farmers take out padayatra
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Staff Correspondent

BELLARY: Farmers from Kuditini and Haraginadoni villages in Bellary taluk, under the banner of Land-losers’ Action Committee, took out a padayatra from Kuditini to Bellary here on Monday to draw attention to their plight.

Preliminary notification

U. Basavaraj, district secretary of the Karnataka Pranta Raitha Sangha, on behalf of the committee, told The Hindu that the Government had issued a preliminary notification to acquire 5,000 acres of land around Kuditini to be handed over to the Mittal group to set up a steel plant.

According to him, the identified land has been divided among the family members while the change in khata had not yet taken place. At present, 1,500 families had been tilling the land and in the event of land acquisition, without sub-division and change in khata, around 1,200 farmers will be severely affected.

He said that the committee was not against the acquisition of their lands but wanted the Government to take note of the plight of farmers and initiate steps that would not deprive them of their livelihood. He suggested that the Government bring in modifications to the process of land acquisition so as to ensure that farmers were not left high and dry.

Mr. Basavaraj said that the committee, in a memorandum to the Chief Minister, had demanded that the Government get the khata changed and guarantee employment to each family.

The Hindu


A very good trend that farmers are not opposed to their land acquisitions but want better life after losing their lands,hope the govt takes care of it appropriately.
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Old February 16th, 2010, 12:36 PM   #72
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Everyone of them should get job in the steel corridor. Before acquisition of land itself they should get appointment letter.
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Old February 17th, 2010, 08:17 PM   #73
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NMDC eyes Rs 30k-cr turnover, to invest Rs 26k cr

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Hyderabad, Feb 17 (PTI) The state-owned mining giant NMDC is looking at clocking Rs 30,000 crore turnover by 2014-15--when its various projects worth Rs 26,000 crore would start be operational.

According to NMDC finance director S Thiagarajan, the company will not mind going to the equity markets to raise funds for these projects if situation requires. He, however, added the company will have cash reserves of over Rs 13,000 crore by the end of this fiscal.

Giving a break-up of its massive investment plans, Thiagarajan said the company will invest Rs 16,000 crore in a 1.2-million tonne per annul steel plant at Donimalai in Karnataka. It would also pump Rs 4,000 crore into the proposed 2mtpa pellet plant at Bacheli in Chhattisgarh.
Source: PTI
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Old February 18th, 2010, 05:50 AM   #74
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ArcelorMittal project: Karnataka farmers want equity for land

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* The farmers have demanded 50 per cent of the cost of the land as cash and the rest in the form of equity in the project

Farmers in Karnataka whose land is expected to be acquired for setting up the six-million-tonne steel plant of ArcelorMittal have come out with a unique demand for selling their land to the promoters: They want equity in the project.

Mr U. Basavaraj, the State Vice-President of the Karnataka Prantha Raitha Sangha (Karnataka region farmers' union) which represents the farmers in Kudithini and Haraginadoni in Bellary district where the Rs 32,000-crore steel project will come up, told Business Line that they have demanded 50 per cent of the cost of the land as cash and the rest in the form of equity in the project.

If the company is not agreeable for such a demand, they will still offer the land but only on yearly lease to the promoters.

“We will not agree to part with the land if these demands are not met,” Mr Basavaraj said. The demand has found a supporter in the Karnataka Minister for Infrastructure Development and Tourism, Mr G. Janaradhan Reddy.

He told reporters in Bellary on Wednesday that for his steel project in the district, he would be willing to offer equity to the farmers whose land will be acquired for the plant.

“Being an industrialist myself, I am confident that all other industrialists would be willing to accept the proposed idea,” he said.

On February 4, the Karnataka Government issued a preliminary notification to acquire 4,800 acres in Kudithini and Haraginidoni in Bellary district for the steel project.

According to the Land Reforms Act, farmers are allowed to give their land on lease to any industrial project but after 10 years, the ownership gets transferred to the promoters. Hence the farmers want this Act to be amended so that the ownership remains with them.

Mr Basavaraj also pointed out that the preliminary notification for acquisition of land was flawed. He said the Government has identified only about 310 families whose land will be acquired for this purpose which means only about 310 farmers will get a job in the steel project according to the State Government's policy.

But Mr Basavaraj said that this was not true because each of the land holdings are divided among other members of the farmers' families as well but are not registered separately.

“Hence it does not truly reflect the number of people who actually own and till those lands,” he said.

In this case, at least over 1,500 families will be affected, he said.
Source: The Hindu Business Line

Farmers becoming businessmen. kya bath hai! (KBH - poor hindi, like kanndada, does not have internet slangs. should have smilies also).
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Old February 18th, 2010, 05:53 AM   #75
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NMDC in talks with Arcelor for Karnataka steel plant

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State-run mining major NMDC is in talks with ArcelorMittal for its proposed 10-million tonne steel plant in Karnataka. NMDC sources claimed there had been preliminary discussions with the steel major for the proposed plant. “It is at a nascent stage,” they said.

However, ArcelorMittal, which has also shown interest in setting up a six-million tonne plant in the same state, denied of any such development. A spokesman of the company said, “We have not received such a request.”

NMDC sources pointed out that all projects in Karnataka would hinge on mine allocation.

The state-owned miner is the first applicant for the Ramandurga mine in a case, which has been pending for the last 41 years in court. The Ramandurg mine has reserves of around 300 million tonnes of iron of the one-billion tonne reserves in the Bellary-Hospet region, where most of the companies are looking to set up plants.

NMDC is also the first company to come forward to set up a steel plant in Karnataka. NMDC’s Donimalai mines are in Karnataka, but the proposed steel plant is linked to the allocation of Ramandurg mine. NMDC has also been invited to set up a deepwater port in the state.

However, NMDC’s partnership talks for the steel plant is not exclusive to ArcelorMittal. Sources said, “We are doing a market survey right now.” The miner is in talks with Tata Steel, Japanese and Chinese players as well.

Last month, NMDC and Tata Steel signed an MoU to examine the possibility of strategic alliance for acquisition, exploration and development of mines and setting up integrated steel plants.

Tata Metaliks, promoted by Tata Steel, on the other hand has proposed a 3-5 million tonne plant in Karnataka after facing delays in land acquisition in West Bengal.

While Karnataka has emerged as an alternative destination for steel companies that have faced inordinate delays in the traditional mineral belt in the east, scarcity of water is driving them away.

Industry sources said investors would not invest in the state unless they are allocated iron ore mines. “It does not have coal and there is water scarcity. The only source of water is Almati,” said sources.

Karnataka has 10 per cent of the country’s haematite (high grade iron ore resources), compared to 19 per cent in Chhattisgarh, 27 per cent in Jharkhand and 33 per cent in Orissa. Ironically, Karnataka has 73 per cent of total magnetite (low grade iron ore resources), but in the ecologically and environmentally sensitive region of the Western Ghats.

Government-owned miner NMDC is in talks with ArcelorMittal for an iron ore project in Senegal, a move likely to pave the way for a likely co-operation not just in minerals, but steel as well.

NMDC sources said, some preliminary discussions had been held for NMDC’s proposed 10 million tonne steel project in Karnataka. “It is at a nascent stage,” they said. An ArcelorMittal spokesperson in India said, “We have not received such a request.”

ArcelorMittal has already evinced interest in setting up a six million tonne plant in Karnataka. However, NMDC pointed out that all projects in Karnataka would hinge on mine allocation.

The state-owned miner is the first applicant for the Ramandurga mine, which has been pending for the last 41 years, and is in court. Ramandurga has reserves of around 300 million tonnes of the one billion tonne reserves in the Bellary-Hospet region, where most of the companies are looking to set up plants.

NMDC happens to be one of the first companies to come forward in setting up a steel plant in Karnataka. NMDC’s Donimalai mines are in Karnataka, but the proposed steel plant is linked to the allocation of Ramandurga. NMDC has also been invited to set up a deepwater port in the state.

However, NMDC’s partnership talks for the steel plant is not exclusive to ArcelorMittal. Sources said, “We are doing a market survey right now.” The miner is in talks with Tata Steel, Japanese and Chinese players.

Last month, NMDC and Tata Steel signed a memorandum of understanding to examine the possibility of strategic alliance for acquisition, exploration and development of mines and setting up integrated steel plants.

Tata Metaliks—promoted by Tata Steel—on the other hand has proposed a 3-5 million tonne plant in Karnataka after facing delays in land acquisition in West Bengal.

While Karnataka has emerged as an alternative destination for steel companies that have faced inordinate delays in the traditional mineral belt in the east, lacks adequate water to cater to all the proposed projects and coal.

Industry sources said, investors would not put in money in the state unless allocated iron ore mines. “It does not have coal and there is water scarcity. The only source of water is Almati,” said sources.

Karnataka has 10 per cent of the country’s haematite (high grade) iron ore resources, compared to 19 per cent in Chhattisgarh, 27 per cent in Jharkhand and 33 per cent in Orissa. Ironically, Karnataka has 73 per cent of total magnetite (low grade) iron ore resources, but in the ecologically and environmentally sensitive region of the Western Ghats.

State-run mining major NMDC is in talks with ArcelorMittal for an iron ore project in Senegal, a move that is likely to pave ways for likely co-operation not just in minerals, but steel as well.
Source: BS


HL Nathurmal, headquartered in Goa, is planning to build an integrated steelworks in the southern state of Karnataka by 2012-13.
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Old February 19th, 2010, 11:17 AM   #76
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Minister backs ‘equity for farmers’ idea

Staff Correspondent

Janardhan Reddy confident industries too will accept it

Quote:
BELLARY: Minister for Tourism G. Janardhan Reddy has welcomed the idea mooted by a section of farmers, whose lands have been marked for acquisition for the setting up of a steel plant, that 50 per cent of the value of the land should be converted into equity in the proposed plant.

“Being an industrialist myself, I am confident that other industrialists will accept the idea,”he told presspersons here on Wednesday.
Proposed plant

The idea had been proposed by farmers of Kuditini and Harginadoni villages, whose land has been identified for acquisition for the setting up of a steel plant by the Mittal group.

The farmers, in a memorandum to the Chief Minister, demanded employment for the family of land-losers, payment of 50 per cent of the market value of the land and conversion of the remaining 50 per cent as shares. “This is a very good proposal. However, farmers need to be convinced about its advantages. I will take up the matter with the Government which would be in the common interest of all”, he said.

Reservoirs

Mr. Reddy, replying to another question, said that four sites had been identified downstream of the Tungabhadra reservoir for construction of balancing reservoirs to meet the water requirement of mega steel industries that would soon come up in the district. The water stored in these reservoirs, the construction of which would be taken up under public-private partnership, would be shared between the farmers and the proposed industries. Water would also be drawn from the Alamatti dam in Bagalkot district to meet the requirement of the industries, the Minister added.
The Hindu
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Old February 20th, 2010, 07:49 PM   #77
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Karnataka govt allows mining in 14 blocks

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Bangalore, Feb 20 (PTI) The Karnataka government today decided to allow mining in 14 blocks, including those in Bellary, Shimoga and Mysore, subject to certain conditions.

Mining in these blocks would be allowed if it is for value addition and creation of jobs, and if it is approved by the forest and environment departments, central government and high-level committee of the state, Home Minister V S Acharya told reporters after a cabinet meeting.

The decision is in tune with the state's mining policy, he added.

The government also gave the green signal to four charitable organisations to acquire agricultural land as per powers vested in it by the exemptions in the Karnataka Land Reforms Act.

These include more than six acres for Brahmakumaris, who are setting up a university in Belgaum district.
Source: PTI
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Old February 22nd, 2010, 07:55 PM   #78
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Arcelor Mittal and POSCO are into politics & are not really interested in Karnataka.

Take it,they wont come.

Bank on only surya roshini,KIOCL,TATA metalliks and the rest.
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Old February 24th, 2010, 06:23 AM   #79
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Mining licences for export of iron ore ruled out

Quote:
* There is no proposal to approve mining in reserve forests
* Tata iron and steel and a South Korean major want to set up steel plants in the State
* Efforts are on to purchase power from other States and other agencies, including Jindal

Bangalore: The State Government has ruled out issuing iron ore mining licences purely for export and will accord its approval only for those adding value to the ore — primarily iron and steel plants.

Chief Minister B.S. Yeddyurappa, after a meeting with senior Ministers, told presspersons on Tuesday that the recent decision of the State Cabinet was not intended to promote exports but restricted to adding value to the iron-ore mined in the new areas. Exports fetch the State and the Union Governments only a small revenue by way of royalty compared with steel plants which will enable wealth generation and also provide employment to a large number of people.

Further, there is no proposal to approve mining in reserved forest areas or in the Bandipur Tiger reserve, the Chief Minster clarified. Of a mining area of 813 sq km in Mysore district, 11 sq km come within the purview of the Bandipur forest reserve and there is no question of granting a licence in this region. Further, rules governing national parks and sanctuaries also state that there will be no major industry or mining within a radius of 25 km from a national park.

He said mining licences would be recommended for approval by the Centre subject to several conditions — value addition, clearance by the State high-level committee on investments, clearances from the Ministry of Environment and Forests and that of the Union Government. “We have only de-reserved some mining blocks in the districts of Mysore, Bellary and Shimoga and it is primarily aimed at attracting investments in the steel sector. Apart from ArcelorMittal and Posco, Tata iron and steel and another South Korean major have also evinced interest in setting up steel plants in the State,” he said.

The Chief Minister said all out efforts were on to purchase power from other States and other agencies, including Jindal which has agreed to supply 200 MW of power, the power trading corporation which has agreed to sell 300 MW and NTPC 300 MW. From March 1, the State will firm up a power purchase agreement for two months which will involve an expenditure of around Rs. 800 crore for about 850 MW of electricity. The Government, Mr. Yeddyurappa said, was committed to adding 5,000 MW of power to the State grid before its term comes to an end. “I stand by my promise given to the people two years ago. Around 1,000 MW will be added to the grid in about a year from now and several other projects are also under implementation.” Meanwhile, the Government will come out with a load-shedding schedule soon, he said.
Source: The Hindu

Which is the other South Korean company?
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Old February 25th, 2010, 08:14 AM   #80
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Posco scouts for mining licences in Karnataka

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South Korean steel major Posco is trying to mount pressure on the Karnataka government to secure iron ore mining licences, before it agrees to zero in on the site for its proposed integrated steel plant in the state.

Recently a high-level team of officials from the company had visited Karnataka, but did not finalise the site for the proposed steel plant despite the state trying to convince them to do so. Sources close to the development told FE that although the state government has recommended a few sites, the company is delaying the finalisation of the site in a bid to exert pressure on the state for obtaining recommendations for a couple of iron ore mining licenses.

Talking to FE, VP Baligar, principal secretary of commerce and industries department of Karnataka, said the Posco team held meetings with the government but did not visit any site recommended for them in various districts in the state.

“They came here and discussed about mining licenses. The government will consider their application,” he said. The company has applied for mining licenses to mine iron ore in various areas in the state, where iron ore content is high.

“In one area, the company has applied for 300 hectares and in another it has applied for 500 hectares for mining iron ore,” the principal secretary said. “The state government can only recommend, as the Centre has to approve iron ore mining licenses,” he added.

“Meanwhile, they have to decide at their corporate level about the site for the steel plant. I’m sure they will come again,” he said. The company is considering places like Bellary and the Koppal belt for the steel plant..

Earlier last month, the state government had formally cleared the steel plant proposals of Posco and ArcelorMittal, the world’s largest steel maker. Posco would pump in Rs 32,300 crore to establish a steel manufacturing facility to produce 6 million tonne per annum (mtpa) while ArcelorMittal would invest Rs 30,000 crore for 6-mtpa capacity plant in Karnataka. According to analysts, Posco is cautious with its Karnataka project due to its bitter experience in Orissa, where the company over the past four years could not establish its proposed Rs 54,000 crore steel plant project due to problems of land acquisition and regulatory approvals.

However the Karnataka government is keen on completing all official procedures, including notification of land, for Posco before the commencement of the global investors meet scheduled in June. It believes that deals with Posco and ArcelorMittal will create a conducive industrial climate in the state that would help the government to canvas larger industrial investments during the investors meet.

While Posco has not made any progress till-date, the state government has already notified around 4,900 acres for ArcelorMittal’s steel project at Kudithini village in the iron ore rich Bellary district. This is the second notification by the state government for ArcelorMittal. Earlier in January, the government notified 4,000 acres in Bijapur district for ArcelorMittal. But the company has not accepted it and was keen on getting lands in iron ore rich Bellary district. As per the wish of ArcelorMittal, the state government notified lands for them in Bellary district in the first week of February.
Source: FE
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