labels: steel, mittal steel
Mittal hints at Jharkhand and Orissa for steel investmentsnews
26 March 2007

New Delhi: Lakshmi Mittal, CEO, Arcelor Mittal, has indicated an interest in putting up greenfield investments in Jharkand and Orissa each.

In 2005 Mittal had signed an initial agreement with the Jharkhand government to build a $9-billion steel plant, which seems stuck due to his company''s inability to secure a captive iron ore mine since state-owned steel maker, Steel Authority of India Ltd., is also interested in the Jharkhand mines Arcelor Mittal is seeking.

Orissa has also cleared a separate investment proposal from Mittal for a Rs400-billion project in the mineral-rich Keonjhar region, prompting speculation that Mittal would opt out of one proposal.

Mittal, however, clarified in New Delhi yesterday that his strategy for India was to start greenfield projects. On whether he would opt for Orissa or Jharkhand he said, "It could be both. We don''t know. We have got the land, the mines identified. But there is a lot of work to be done," he told reporters.


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Mittal hints at Jharkhand and Orissa for steel investments