October 8, 2008

ArcelorMittal Moving Ahead With $27 Billion of Indian Steel Mills, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- ArcelorMittal (NYSE:MT) (Luxembourg) is in talks with the state government of Chhattisgarh to set up a 6 million-ton-per-year integrated steel mill. The company intends to invest about $3 billion in the project. Discussions are still in the initial stages, but when the project is complete, the company's proposed steel production capacity from its units in India will reach 30 million tons per year within the next decade. Earlier this year, ArcelorMittal announced plans to invest $24 billion in two integrated steel plants in the states of Orissa and Jharkhand.

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SOURCE: Industrial Info Resources