ArcelorMittal to build three steel plants in India

Published: 11-Feb-2010

ArcelorMittal announced that it will build all the three proposed greenfield steel manufacturing projects in India.

The decision to build the first plant would be based on the availability of land and other key resources for the proposed projects.

The steel-maker has recently invested a total of $20 billion for setting up two steel plants with capacity of 12 million ton each in Orissa and Jharkhand. Apart from that, it also signed a memorandum of understanding to build a third 6 million ton plant in Karnataka at a cost of $6 billion.

LN Mittal, Chairman, ArcelorMittal was reported stating that since land acquisition was proving to be difficult, the company may abandon plans to go ahead with the two original proposed plants in Orissa and Jharkhand and look for different sites.

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