"We can not set up a plant in an isolated place without any infrastructure", Irani told a press conference here on Saturday.TIsco had signed an MoU with the Orissa government for providing iron ore, power supply, railway connection and port facilities which were "yet to come up", Irani said.Meanwhile, Tisco has spent Rs 120 crore for the purchase of 4500 acres of land and rehabilitation of the people.Speaking on the renewal of Tisco land lease agreement which expired on October 1995, Irani said investment worth crore has been stopped and development of the town hindered by the delay on the part of Bihar government in not renewing the agreement.

"Negotiation with Bihar government is on for the renewal of lease of 1750 acres of land and has reached its final stage", Irani said.The Tisco MD clarified that thecompany in its report on the renewal of lease had decided to exclude 86 bustee areas which had encroached upon their land."Many of the encroached areas have been occupied for over three decades and buildings and shops have come up there. It will not be possible for the company to vacate those areas and so we did not want to include it in the lease agreement," Irani added.