ArcelorMittal plans may face delay
The global financial downturn may delay ArcelorMittal’s India plans of setting up two greenfield steel projects with an investment of about Rs80,000 crore.
The LN Mittal-led company planned to set up steel plants of a 12 mt capacity each in Jharkhand and Orissa, for which it had inked MoUs with the state governments.
The company had envisaged commencing the first phase of production at its Jharkhand plant by 2012. In Jharkhand, the company has got mines, but no land as yet. In Orissa it is better placed in terms of land.