Iron ore mining lease granted for AMNS steel mill project in Odisha

Wednesday, 21 April 2021 11:40:34 (GMT+3)   |   Kolkata
       

The proposed 12 million mt per year greenfield steel mill project of India-based ArcelorMittal Nippon Steel (AMNS) in the state of Odisha will secure access to the Ghorabhurani-Sagasahi 78.24 million mt iron ore reserve as raw material linkage, a state government official said on Wednesday, April 21.

The official said that, following the signing of the memorandum of understanding (MoU) for the project between AMNS and the Odisha government, the steel company is in process of framing a detailed project report (DPR), while the state government is in the process of facilitating an allocation of 4,000 acres of land along the coast, as sought by AMNS.

He said that the Ghorabhurani-Sagashi iron ore reserve was originally obtained by Essar Steel through the auction route in 2016. However following the acquisition of the stressed assets of Essar Steel by AMNS through the bankruptcy resolution process, the Odisha government has executed the official mining lease for the iron ore reserves in favour of AMNS.

Significantly, following the acquisition of Essar Steel, AMNS has also successfully obtained the Thakurani iron ore reserves through the auction route.


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