The multinational iron ore producer and exporter – Sesa Goa Limited has recently approached the state industry department for renewal of its MoU that was signed in 2003-04 and cancelled recently. Industry department source said the company has submitted a representation to this effect to state’s director of industries.
Jharkhand government had signed 75 MoUs for steel sector during last eight years, among them Sesa Goa was the 27th companies whose agreements were cancelled as the companies were delaying in implementing the terms and conditions of the MoUs.According to state industry secretary A P Singh cancellation of Sesa Goa’s MoU had been taken by the industry department for two reasons – the company failed to start groundworks, namely selection of site for its proposed project and changing of promoters following merger of Sesa Goa with Sterlite Industris.
Singh said that a prospecting licence for a small chunk of iron ore mines in West Singhbhum was also awarded to Sesa Goa in 2004 for local value addition. He said that Sesa Goa was now free for a fresh MoU with the state government if they were keen for setting up a steel unit in the state.
