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September 06, 2008


ArcelorMittal plans USD 25 billion investment in India

PTI reported that ArcelorMittal is very bullish about India and is committed to invest nearly USD 25 billion in India.

Mr Malay Mukherjee member of the group management board of ArcelorMittal said that "India is one of the star performers and we are very bullish about it. We are committed to invest nearly USD 25 billion.”

Mr Mukherjee said that “Besides investing USD 10 billion each in Orissa and Jharkhand on 12 million tonnes steel project each, we propose to have more customer oriented projects such as service centers in India. We are also working in JV in Chennai in stainless steel, for the automotive sector."

Mr Mukherjee added that "We still have fire in our belly and one of the areas where we do believe that a lot still needs to be done is definitely India."