Mecon has suggested joint ventures to take care of long-term supply linkages for iron ore in a bid to fast-track setting up of steel plants in India. Mecon has also recommended a review of issues in the LARR Act, 2013, which makes acquisition of land difficult and leads to cost escalation.

Mecon suggests formation of JV for long-term supply linkage of iron ore to prospective steel producers and setting up of large capacity steel projects in special purpose vehicle mode through competitive bidding route. This will help fast-track development of the steel and mining sector in India through speedy land acquisition, resettlement and rehabilitation (R&R), statutory clearances and securing ore and water linkages.

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