Essar Steel’s six million tpa integrated steel plant at Paradip in Jagatsingpur district of Orissa is expected to be operational by September 2010.
The Rs 10,000 crore project had landed into trouble due to resistance by the to-be-displaced families over poor compensation towards land acquisition. The company has resolved the issue and has now agreed to pay Rs 19.10 lakh per acre for private land.
According to sources, of the 1,925 acre identified for the steel project, around 1,663 acre belongs to private parties.