ARCELORMITTAL PLANS A SO­LAR FARM IN KAR­NATAKA WITH AN IN­VEST­MENT OF $6.5 BIL­LION

Marwar - - All Things -

ArcelorMittal en­vis­ages set­ting up a so­lar farm in Kar­nataka. The NRI bil­lion­aire Lak­shmi Mit­tal-led com­pany had in June 2010 en­tered into a pact with the Kar­nataka gov­ern­ment to set up a 6 mil­lion tonne steel plant with a cap­tive 750 MW power plant, with an in­vest­ment of $6.5 bil­lion. The so­lar farm may come up on the land al­lot­ted to the world’s largest steel­maker for the pro­posed project. It is re­ported that the com­pany has de­cided to go ahead with the so­lar farm in view of ex­cess global steel ca­pac­ity and de­lays in se­cur­ing raw ma­te­ri­als. In­ci­den­tally, the com­pany’s projects in Odisha and Jhark­hand have also been marred by de­lays.

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