OTN: VEDANTA IS ALSO SCOUTING FOR IRON ORE MINES/STEEL PLANT IN ODISHA
Dear All,
It appears that Vedanta has found Gold Mines in Odisha, by way of concessions and facilities.
As per the attached report, Vedanta through Sesa Goa is going to set up a Steel Plant in Odisha. Indeed, the News claims that the Govt of Odisha had earlier signed MOU with Sterlite Industries of Vedanta Group for setting up of a Steel Plant in the State.
J.N.Mahanty
Sesa Goa plans Rs 9k-cr steel foray
Iron-ore mining company Sesa Goa has finalised a blueprint to diversify into steelmaking with an investment of Rs 6,000-9,000 crore, in Orissa and Jharkand. The move is significant as the company is already under fire from shareholders for announcing a public offer to buy up to 20 per cent stake in Cairn India.
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