Arcelor Mittal may shift projects within India

Dated-7 jan 2010

New Delhi: No. 1 global steelmaker ArcelorMittal may consider shifting the locat
ion of its steel projects within India, said company chairman Lakshmi Mittal on
Thursday.
When asked whether the company may consider shifting its project in Orissa to so
me other place such as Karnataka, Mittal said: "Which is possible."
"Steel plants cannot be built in a day. Depending on the progress, and depending
on various approvals, land acquisition, mining approvals, the priorities can ch
ange," he said.
The company's Indian unit has sought approval from the Karnataka government to s
et up a steel plant, which will be in addition to its plans to build steel plant
s in the states of Orissa and Jharkhand.
The company has faced delays for its $20 billion plan to build the Jharkhand and
Orissa plants, which would give it a presence in one of the few steel markets i
n the world still seeing demand growth.
In September last year, ArcelorMittal said it would acquire a one-third stake in
Indian re-roller Uttam Galva, making its first investment in the country.