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Arcelor Mittal plans two coal JVs

Thursday, 15 May 2008
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Arcelor Mittal is planning to pick up equity stakes in two joint ventures - in Rampia Coal Mines & Energy (Orissa) and Seregarha Mines (Jharkhand), to start its coal mining operations in the country.

Arcelor Mittal India (AMIL), the group's Indian arm plans to pick up 55 per cent stake in Serrgarha Mines, which will be a JV with the GVK Group. AMIL also plans to take 13 per cent in Rampia Coal Mines & Energy - a JV with Reliance Energy, Sterlite Industries, Navbharat Industries, GMR and Lanco

The company has signed deals with Orissa and Jharkhand governments to develop two steel plants of 12 million tpa each, involving an investment of Rs.80,000 crore.

Also See:

Arcelor Mittal allotted 7,750 acres for Orissa steel project (12-Feb-08)

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