Indian Farmers Fight Billionaire Mittal, Posco for Water Rights [India]

Author: Abhishek Shanker, Bloomberg, Published on: 4 October 2010

ArcelorMittal and Posco are leading $80 billion in planned spending in India…Standing in the way are farmers and their water supply...latest hurdle is an environment ministry report…on the impact of the Posco project…“Posco wants our land, it wants our water,” said Makar Kandi, 75, who sustains a family of eight from a one-acre plot on which he grows betel leaves in Orissa’s Dhinkia village...ArcelorMittal…faces delays for a $10 billion mill in Orissa and in Jharkhand state. Projects by Tata Steel Ltd., India’s biggest maker of the metal, are faring no better in the two states and in Chhattisgarh…forced farmers to compete with manufacturers including Vedanta Resources Plc and Hindalco Industries Ltd. (part of Aditya Birla) for water from the Mahanadi river…“Opposition to the project is unfounded,” Posco India Ltd. General Manager Simanta Mohanty said.

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Related companies: Aditya Birla Group Arcelor Mittal Hindalco (part of Aditya Birla Group) Posco Tata Group Vedanta Resources