ET reported that slow process of land acquisition and environmental clearance coupled with global recession have scripted delays in major steel projects coming up in different parts of the India with projected investments of nearly INR 400,000 crore.
According to the steel ministry assessment report, of the 22 projects, eight are located in Jharkhand, six in Orissa and eight others in Karnataka, West Bengal, Andhra Pradesh, Maharashtra and Gujarat.
While talking to Sunday, Mr P K Rastogi steel secretary agreed that there could be a delay in some projects though all those companies were still very serious in pursuing their plans.
He said that “We do understand that the global recession has hit big steel companies and they may take some time in executing their mega projects in India. We feel, by the time the economy revives, the other social and regulatory issues at the sites would be sorted out.”
(Sourced from http://www.steelguru.com/news/index/2009/09/14/MTExNTgx/Steel_project_plans_in_India_hit_by_land_delays.html)
Sunday, September 13, 2009
Steel project plans in India hit by land delays
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