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Tata Steel seeks allocation of iron ore mine to start work in Karnataka

15 Oct 2012 Evaluate

Tata Steel has sought allocation of an iron ore mine, which has at least 300 million tonnes of reserves in order to begin work on the proposed steel plant in Karnataka. The company has identified the 2,400 acres land, in Karnataka and is waiting for the iron ore allocation to be done.

The company planned to set up a six million tonne per annum (mtpa) steel plant in January, with Rs 30,000 crore investment in Haveri district of the southern state. It proposes to build the facility in two equal phases. The state government is considering the company’s proposal for an iron ore mine which is sufficient to meet the raw material demand for at least 30 years of the plant life.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world`s second most geographically diversified steel producer and a Fortune 500 Company. 

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