London/Ranchi, Oct 5 (PTI) ArcelorMittal, the world's largest steel maker, today threatened to abandon its USD 20 billion steel projects in two Indian states over delays, but will look for new sites within the country for the plants.
"The company continues to work on its two greenfield projects in Jharkhand and Orissa. However, in the event that land acquisition continues to prove difficult, we will start to search for alternative sites in India...," ArcelorMittal Chairman and CEO Lakshmi Mittal said in a statement.
The statement followed a report in The Financial Times, which carried an interview of Mittal, stating: "Lakshmi Mittal is close to pulling out of a USD 20 billion plan to build two large steel plants in India..."
In the statement, Mittal said: "ArcelorMittal has no plans to quit its investment plans for India... is an important country for steel demand growth and... important part of ArcelorMittal's long-term strategic plans.
Monday, October 5, 2009
Mittal scouting new sites for his Indian plants
STAFF WRITER 16:22 HRS IST
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