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Mr B. Muthuraman (right), Managing Director of Tata Steel, and Mr S. Asokan, Chief, Titania Business, Tata Steel, addressing a press conference in Chennai on Tuesday.

Our Bureau

Chennai, Aug. 14

Tata Steel may look at alternative locations if land acquisition related issues, concerning its proposed titanium di-oxide plant at Tirunelveli district in Tamil Nadu, are not solved by the State Government.

Addressing a press conference here today, Mr B. Muthuraman, Managing Director, said, “We are a Rs 1,00,000-crore company (post the Corus acquisition) and this project (titanium di-oxide plant) is worth Rs 2,500 crore. We will have alternative plans if things don’t work out in Tamil Nadu.”

Andhra Pradesh and Orissa were the other States considered by Tata Steel before they zeroed in on Tamil Nadu to set up this plant a few years ago.

Over the last month, the project has come under scrutiny of various political parties and activist groups on issues mainly relating to land acquisition.

Tata Steel has earmarked Rs 50 crore towards acquiring about 10,000 acres (Rs 50,000 an acre) necessary for the project and is unlikely to proceed with land acquisition if land prices rise.

Mr Muthuraman said the land in consideration was barren and owners were not getting any returns from it.

“We are willing to pay a fair price for the land and will not be pressurised into giving unreasonable prices,” he said.

Of the 10,000 acres in consideration, about 7,500 acres is owned by 8,929 individuals. When asked if the company would directly buy land from owners in the district, Mr Muthuraman said they were not averse to such an idea, but resolving the issues relating to property title and ownership for 10,000 acres would be difficult for Tata Steel.

More Stories on : Metals | New Projects | Tamil Nadu | Tata Steel Ltd

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