ArcelorMittal (MT) Chairman Lakshmi Niwas Mittal said Thursday he is committed to the company making an "operational presence" in India's steel sector.

Speaking at an industry conference, Mittal said he is also happy with the progress related to ArcelorMittal's plan to build a 6.0-million-ton-a-year steel plant in the southern Indian state of Karnataka.

The world's largest steelmaker also plans to invest $20 billion-$25 billion to build a plant each in the eastern states of Jharkhand and Orissa. The plants, expected to have an annual capacity of 12 million metric tons each, are due to start operations in 2014.

However, ArcelorMittal has been struggling to secure the land it needs to set up the facilities in the two eastern states because of fierce opposition from local people and slow-moving local governments.

-By Prasenjit Bhattacharya, Dow Jones Newswires; 91-11-4356-3358; prasenjit.bhattacharya@dowjones.com
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Giu 2024 a Lug 2024 Clicca qui per i Grafici di Arcelor Mittal
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Lug 2023 a Lug 2024 Clicca qui per i Grafici di Arcelor Mittal