Investors may not set up plants without assurance: Jindal
Bhubaneswar: Industrialist Naveen Jindal today said investors might not like to set up mineral based plants unless given assurance for raw material linkage, a remark that differs from the Odisha government's position that there would be no guarantee of raw materials in revised MoUs.
"If a mineral based industry is not given assurance of raw material linkage, why should any promoter invest money in setting up plants?" Jindal asked reporters.
He was replying to a question on Odisha government's January 15 guideline which clearly stated no fresh assurance would be given on supply of raw materials to steel companies in the revised MoUs.
Jindal, however, hoped that the state government would work out a solution. "I am optimistic that the state government will make all efforts to support industries which are coming here with investments," he said.
Asked whether his company would also suffer as the validity period of its MoU has already lapsed, Jindal said "We will have no problem as JSPL has achieved all milestones to enable itself for availing raw material and other support."
Jindal, however, said projects which have already come up in the state, should be given all facilities as assured to promoters by the government at the time of investment.
"The assurance given to promoters should be honoured," the industrialist-turned-politician said here after meeting senior state governments at the state secretariat here.