A Rs 5,000 crore ArcelorMittal steel plant proposed to be set up in Karnataka’s Dharwad region is not likely to materialise Chief Minister Siddaramaiah has stated in the Karnataka legislature in reply to a query on the status of the proposed project. The company is looking to invest in sectors other than the steel sector, the chief minister said.
ArcelorMittal had signed an MoU with SAIL to set up a steel plant at Dharwad. The company was looking out for land for the project. Siddaramaiah said that the government was aware of the MoU between SAIL and ArcelorMittal but pointed out that the Mittals had not approached the state.
The Karnataka chief minister said the Mittals were now interested in setting up solar power projects in Karwar in coastal Karnataka.