By IANS,
Chennai : The future of the titanium dioxide project promoted by Tata Steel in Tamil Nadu lies with the state government, said a top official of the company here Friday.
“The project is in limbo. It is for the state government to take action for the project to proceed further,” Tata Steel managing director B. Muthuraman told reporters on the sidelines of PanIIT 2008 conference.
The Rs.25-billion (Rs.2,500-crore) project got stuck as the steel major was not able to acquire the needed land – around 10,000 acres – at Sattankulam in Tirunelvelli district.
The group has managed to acquire just 300 acres.
Queried about the trend of steel price, Muthuraman said: “It may see a level or may go up depending on the demand.”
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