Posts Tagged ‘MOU’

Odisha not to renew MoU of Deepak Steel

June 28, 2013 Leave a comment

The Department of Steel and Mines, Government of Odisha has decided not to renew the MoU signed with Deepak Steel and Power Ltd after the promoter of the company was found to be involved in illegal mining activity.

The Department has cancelled the trading licence of the company and asked the miners not to sell iron ore to the firm. The company operating Uliburu iron ore mines in Joda mining circle under the power of attorney received from original lease holder B K Mohanty, is accused of raising ore from an adjacent plot categorised as reserve forest area and is said to have made money worth Rs 1,800 crore by exporting the mineral.

In 2005, Deepak Steel & Power Ltd had proposed to set up a 0.25 million tpa steel plant at Topodih (Barbil) entailing an investment of Rs 195.31 crore. In 2010, the company was asked to expedite work on its project and furnish a report to the state government on the state of land acquisition and actual investments grounded as soon as possible. It was warned that if it failed to submit the details then its MoU may be cancelled.

Miner B K Mohanty, who had authorised Gupta to operate the iron ore lease, has been issued notice by the Joda deputy director of mines (DDM) for illegal mining and selling of minerals worth Rs 1,776 crore.

Meanwhile, the Shah Commission has asked for clarification on the illegal activities in Mohanti’s lease-hold area.

Auto Park planned in Orissa

March 20, 2010 Leave a comment

Amtek Metal & Mining inked an MoU with the Orissa Government on 19 March 2010 for setting up a mega auto park with an associated two million tpa integrated steel plant and 500 MW power plant at Tangi in Cuttack district.

The project is expected to entail an investment of Rs 15,820 crore and is likely to spread over 2,500 acre. Of the total, Rs 2,050 crore is proposed to be invested for the auto park in phases for which about 550 acre will be required.

JSL to set up stainless steel park in Orissa

February 4, 2010 Leave a comment

The Orissa Government signed an MoU on 4 February 2010 with JSL for setting up a stainless steel park at Kalinganagar where the company is setting up a 1.6 million tonne integrated stainless steel plant. JSL is likely to pump in Rs 704 crore to develop the park.

As per the MoU, JSL is expected to develop, promote and manage the stainless steel park. It will provide internal infrastructure like roads, drainage, water and power and other external infrastructure linkages.

Around 300 acre will be required for the complex and is to be provided by the state government.

Categories: Metallurgy Tags: , , ,
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