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Inserted on 08 02 2010 by dimaggio. EN - Exhibitors news
Site URL : Marketwatch
ArcelorMittal picks site for Indian steel plant.
ArcelorMittal, the world's largest steelmaker, has finalized its decision on a site at Kuditini--near the Bellary district in the southern Indian state of Karnataka--to set up its 300 billion-rupee plant with a capacity of 6 million tons a year, the Business Standard reported Saturday, citing a senior state government official.
"After discussing the matter with [Karnataka] Chief Minister B.S. Yeddyurappa, we have agreed to provide them land at this place," said V.P. Baligar, principal secretary, industries and commerce, according to the report, adding that a team of company officials visited the site Friday.
The state government has identified 300 hectares of iron ore mines for ArcelorMittal, and the company will sign an initial pact with the government June 3, the report quoted Baligar as saying.
A team from South Korean steel giant Posco has also visited the Bellary district to look for a project location but hasn't decided, the report added.
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