Mittal Steel, Orissa MoU likely in 2 months

Mittal Steel is likely to sign an agreement with the Orissa government within the next two months for setting up a steel plant with an investment of $7 billion.

"The MoU would be through once Mittal Steel acquires 3,000 acres of land it has sought from the government," Orissa Minister for Steel and Mines Padmanabha Behara said today.

Indicating that the steel giant might not use the Bhambra port as was being reported, he said Mittal Steel is likely to use the upcoming port in Gopalpur being built by the government.

Mittal Steel has appointed MECON as consultant to select a site for the project.