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Essar Steel in a tight spot over 1,000 acres of unused land at Paradip

The company was to set up a six-million-tonne greenfield steel mill there

Essar Steel

Still in the throes of an insolvency resolution, Essar Steel is in a tight spot for failing to develop over 1,000 acres of land at Paradip (Odisha) where it initially proposed a six million tonne greenfield steel mill. To facilitate the setting up of the steel plant, the Odisha government through its agency for land acquisition- Odisha Industrial Infrastructure Development Corporation (Idco) had acquired 1,262 acres of land, of which 1,123 acres were private and around 100 acres were government-owned. The acquired land was alloted to Essar Steel with pointed riders. The company was ...