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ArcelorMittal plans solar farm in Karnataka
Press Trust Of India reported that world’s largest steelmaker ArcelorMittal may set up a solar farm on land allotted to it for the proposed 6 MT Karnataka project in view of excess global steel capacity and delays in securing raw materials. Ap per report Karnataka government It had entered into a pact with for setting up a 6 million tonne steel plant with a captive 750 MW power plant at an investment of INR 6.5 billion.
The global steel giant has said in its latest report that “In view of excess capacity of steel world-wide and uncertainty in iron ore availability locally, the company is also exploring the possibility of utilizing the land in Karnataka for the establishment of a solar farm for generating solar energy.”
It said that ArcelorMittal India has received possession certificates for 2,659 acres of private land following the acquisition of 1,827 acres and 832 acres in December 2011 and October 2012, respectively. It said that a balance of 136.33 acres owned by the Karnataka government is being processed for allocation, it said.
Setting up of the solar park will contribute to the mitigation of Karnataka’s power crisis and participation in the National Solar Energy mission of the government of India.
It said that “In this regard, the company has sought the state government’s permission to set up a solar farm of up to 600 MW. The state government is considering ArcelorMittal’s proposal and the company is hopeful of receiving a favorable response to the proposal.”
Source : Press Trust Of India