ArcelorMittal begins land acquisition

Arcelormittal began the land acquisition process required for their 12 million ton steel plant at Armo village in Jharkhand. At a rate of INR 5000 per decimal, 2.36 acres of land has already been signed over and registered to the company with more to come as 300 villagers have agreed to the land purchase offer. A binding MoU states that an additional 560 acres will come into their possession after paperwork and registry are completed. The company requires 1200 acres of land for the first phase of the project with a total of 2500 acres needed to complete it. Arcelor has 35 million CUM of water from Tenughat dam for the project and the union ministry of mines approved the Jharkhand governments’ recommendation, granting prospective license to the company for 662.93h of land in the Karmapda region.

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