It is reported that Mr Zhang Chunxian secretary of the Hunan Provincial CPC Committee and director of the Standing Committee of the Hunan Provincial People Congress met with Chairman and CEO of Arcelor Mittal Company Mr Lakshmi Mittal and his delegation.

Mr Lakshmi Mittal came all the way to Hunan to participate in the foundation laying ceremony of projects of auto sheet and electric steel, which were jointly invested by ArcelorMittal with Hunan’s Valin Group. The gross investment of the two projects is estimated to reach CNY 10.5 billion with an annual capacity of 1.2 million and 0.6 million tonnes respectively.

Mr Lakshmi Mittal remarked that Hunan has maintained good momentum in economic and social development while Arcelor Mittal has also strengthened competitiveness in tackling the financial crisis which will help promote further cooperation in technology transfer and talent training between the two sides. Arcelor Mittal promised to provide state of art technical support for the collaborative project.

ArcelorMittal ranks the first among international steel companies with its headquarters located in Luxembourg. In November, 2007, ArcelorMittal signed a framework agreement with Valin Group on project and technology cooperation in auto sheet, electric steel, stainless steel, and so on which enjoyed smooth progress.

(Sourced from english.rednet.cn)