ArcelorMittal (MT) said the company is committed to setting up of a 12-million-ton-a-year steel plant in the eastern Indian state of Jharkhand, a project that hasn't been able to get off the ground in the past five years due to problems related to land acquisition.

The steelmaker said its statement was in response to certain media reports that suggested the company would scale down its plans in India to ensure quicker implementation of its projects.

ArcelorMittal said also it hasn't proposed setting up of a steel plant jointly with state-run Steel Authority of India Ltd. (500113.BY) in the eastern Indian town of Sindri.

"ArcelorMittal had proposed to SAIL (only) its preparedness to look at a possibility of a joint venture," the statement over the weekend said, without giving further details.

-By Prasenjit Bhattacharya, Dow Jones Newswires; 91-11-4356-3358; prasenjit.bhattacharya@dowjones.com
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