Arcelor-Mittal to delay India steel projects
Arcelor-Mittal to delay their proposed steel projects in Orissa, Jharkhand by two years, according to media reports. The Indian head of Arcelor- Mittal told media over this on Wednesday.
The company is proposed to set up steel units in these states and those projects estimated at $ 20-25 billion. It is the impact of the global slowdown on the projects in India.
The group, led by India-born, London-based L.N. Mittal, had earlier proposed the groundbreaking for the two projects, each with the overall capacity of 12 million tonnes of steel per annum, by end-2009 and production by 2014, the media reports quote.
The company is proposed to set up steel units in these states and those projects estimated at $ 20-25 billion. It is the impact of the global slowdown on the projects in India.
The group, led by India-born, London-based L.N. Mittal, had earlier proposed the groundbreaking for the two projects, each with the overall capacity of 12 million tonnes of steel per annum, by end-2009 and production by 2014, the media reports quote.
posted by Neel @ 7:30 PM
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