- Says the alleged irregularities talked about is of the period much prior to AM/NS India taking over the project
NE NEWS SERVICE
HAZIRA, JAN 5
Hazira-based ArcelorMittal Nippon Steel India (AM/NS India) on Tuesday refuted the allegations of a senior Gujarat Congress leader that the company had resorted to land encroachment in Hazira. The company would not be responsible for the alleged irregularities talked about is of the period much prior to AM/NS India taking over the project, said a company spokesperson.
In its refutal, the company said, “We have come across some allegations made by a senior leader of the Congress party in Gujarat against ArcelorMittal Nippon Steel India (AM/NS India) with regards to land encroachment in Hazira. We wish to clarify that the alleged irregularities talked about is of the period much prior to AM/NS India taking over the project. AM/NS India acquired Essar Steel India in December 2019 as a result of the Corporate Insolvency Resolution Process through the National Company Law Tribunal and subsequent legal process in the most transparent manner.”
Regularisation process under way
“We would like to bring to your notice that AM/NS India has approached the Gujarat government to regularise the allotment to the company. As a company that holds itself to the highest ethical standards and business practices, we initiated the process to regularise the said irregularities soon after taking over,” the statement added.
It further clarified that, “We would like to inform you that the process to regularise the said irregularities is in progress as per rules and regulations laid down by the government. The regularisation process is taking a little more time due to the pandemic, but we are confident it will be completed soon.
“We would also like to bring to your notice that AM/NS India plans to invest Rs. 50,000 crore to double its steel production capacity in Hazira, for which the company has sought land. We deny the allegations that the land is being allotted to AM/NS India at throwaway prices or below the market prices, and wish to clarify that the land allotment process is being carried out as per the established procedures,” the spokesman said..
