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Arcelor Mittal to set up two 10-million-tonne steel plants in Orissa, Jharkhandnews
25 July 2007

Mumbai: Arcelor Mittal is looking to build two steel plants of 10 million tonne capacity each in Orissa and Jharkhand, its president and chief executive Lakshmi Mittal said.

"We have appointed consultants for the projects. Once the detailed feasibility report is ready, we will decide the capacity," Mittal said.

"Today we want infrastructure for 10 million tonnes capacity each." Earlier, he said the steel plants would need 600 million tonnes of coal reserves each.

The steel plants that Arcelor Mittal plans to build in India will each need 600 million tonnes of coal, Mittal said.

Mittal said he would meet the chief ministers of the two states to discuss issues like allotment of land and coal mining rights.

"I see the progress is excellent," he said.

"Definitely there is an assurance from the state government and centre, and we are quite confident of their support, so that we have iron ore mining and coal mining and power plants as part of the projects," he said.

Union steel minister Ram Vilas Paswan, had earlier said Jharkhand has enough iron ore reserves to feed units run by both state-run steelmaker SAIL Ltd. and global leader Arcelor Mittal.

Mittal said the plants'' capacity would be decided once a detailed feasibility report had been done." Jharkhand has three billion tonnes of iron ore reserves. The demand of SAIL is two billion tonnes," Mittal said.

"You can have other companies like Arcelor Mittal to use the additional reserves of one billion tonnes."

The Steel Authority of India (SAIL) chairman S K Roongta, meanwhile, said SAIL is open for talks with Arcelor Mittal and explore synergies between the two companies.

"We are open to discussion with Arcelor Mittal on technological cooperation and exchange of personnel, as they have more expertise in the area," he said after releasing his company''s first quarter results.

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Arcelor Mittal to set up two 10-million-tonne steel plants in Orissa, Jharkhand