Mittal may drop Jharkhand, Orissa plans;look elsewhere in India
London, October 05: World’s largest steelmaker ArcelorMittal may pull out of its $20-billion plan to build steel plants in the states of Jharkhand and Orissa, due to delays in land acquisition process, and look elsewhere in the country for the projects, its chief Lakshmi Mittal has said.
“If we cannot make progress in these two sites we will have to abandon the idea of starting the projects there and look for other places in India for our expansion,” ArcelorMittal Chairman and CEO Mittal told British daily Financial Times.