Orissa to expedite all mega projects

Orissa on Friday said it is geared up to resolve all issues hurting the proposed Rs 6-lakh crore investments in the state, including the Rs 1-lakh crore investments by the global steel giants--ArcelorMittal and Posco.

The statement comes at a time when South Korean President Lee Myung-Bak is arriving here next week. The Centre has already nudged Orissa to accrod all necessary approvals to these projects in the state, especially the Rs 54,000-crore (Rs 540 billion) 12mtpa steel project by Posco.

"We are committed to all mega investment proposals in the state and are regularly reviewing their progress. So far, the state has signed 79 MoUs with various investors entailing Rs 6 lakh crore investments, including 49 steel projects worth Rs two lakh crore," Orissa Mines Minister Raghunath Mohanty told PTI .

"The projects for which agreements have been made include 21 power projects, three each cement and alumina plants and one each auto and titanium projects," Mohanty informed.

Chief Minister Naveen Patnaik is going to convene a mega investor meet shortly to help expedite these projects, Mohanty said, adding the state is hopeful of transferring the required 4,004 acres for the Posco project in Jagatsingpur district after the Centre gave the final clearance for transferring 2,900 acres of forest land for the project, he said.

Meanwhile, sources said Orissa has assured Vedanta chairman Anil Agarwal to provide bauxite ore for its alumina refinery at Lanjigarh in the Kalahandi district till the Centre grants a final clearance for bauxite mining from the Nijamgiri hills, which is said to containing 75mt of bauxite reserves.

Earlier the Centre, sources said, had signalled Orissa to expedite necessary approvals to projects including that of Posco and ArcelorMittal projects, after the embarrassment caused by steel czar LN Mittal's adverse remarks on the investment climate in the country.

The world's largest steelmaker ArcelorMittal's Rs 1-lakh crore projects in Jharkhand and Orissa are still on papers due to delays in land acquisition and regulatory approvals even after inking the MoU more than four years back.

Both, ArcelorMittal and Posco are facing stiff resistance from the locals in acquiring land for their projects. AreclorMittal needs about 8,000 acres in Orissa to put up its 12mtpa plant besides it is still awaiting iron ore mining lease.

Steel Minister Virbhadra Singh is also likely to visit Orissa soon to expedite these projects.