The global financial downturn is
likely to delay Arcelor Mittal's India plans of setting up two greenfield steel
projects with an investment of about Rs.80,000 crore.
The L N Mittal-led company plans to
set up integrated steel plants of a 12 million tpa capacity each in Jharkhand
and Orissa, for which it had inked MoU with the respective state governments
about three years ago. The company had envisaged commencing the first phase of
production from its Jharkhand plant by 2012, which will now be delayed in view
of slackening demand for steel as also the liquidity crunch. In Orissa, the
company has completed the draft of its DPR whereas in Jharkhand it is likely to
complete it by March 2009. In both the states, the company has appointed M N
Dastur as consultants for preparing the DPRs.
Also See:
Arcelor Mittal
plans steel plant in Chhattisgarh (19-Sep-08)