The MoU was signed by L N Mittal, chairman of Mittal Steel and P P Sharma, state chief secretary, in the presence of chief minister Arjun Munda and assembly speaker Inder Singh Namdhari.
The project would be developed in two phases of six million metric tonne each with the first phase expected to be completed within 48 months of the agreement of the detailed project report. The second phase would be completed within 54 months after the completion of phase I.
The steel major would also study the possibility of setting up a 2,400 MW capacity power plant, and would set up a township for its employees as part of the project.
