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)