The Hindu reports that AcerlorMittal, the worlds largest steel company has promised to spend US$ 500 million on CSR initiatives focussed on Jharkhand and Orissa. Its no coincidence that the company has multiple project sites within these states.
Lakshmi Niwas Mittal-promoted world’s biggest steel company has announced two steel projects in Jharkhand and Orissa of 12 million tonnes capacity at a total cost of about Rs 80,000 crore. “We will spend about 500 million dollars in Orissa and Jharkhand to achieve an appropriate balance between the Corporate Responsibility (CR) and the growth in business operations,” ArcelorMittal Vice President Remi Boyer said
By the way, Orissa and Jharkhand are two of the poorest states in the country. Half a billion dollars, if spent wisely could really improves that lives of people in these states.