vIndianz.com (07 Jan, 2010) — International steelmaker ArcelorMittal might think about shifting the site of its steel projects within India, chairman Lakshmi Mittal said on Thursday.
When asked whether the company might think about shifting its project in Orissa to some other place such as Karnataka, Mittal said: “Which is possible.”
“Steel plants cannot be built in a day. Depending on the development, and depending on different approvals, land acquisition, mining approvals, the priorities can vary,” he said.
The company’s Indian unit has sought sanction from the Karnataka government to set up a steel plant, which will be in addition to its plans to construct steel plants in Orissa and Jharkhand.
The company has faced delays for its $20 billion plan to put together the Jharkhand and Orissa plants, which would give it a presence in one of the few steel markets in the world still seeing demand growth.
In September previous year, ArcelorMittal said it would purchase a one-third stake in Indian re-roller Uttam Galva, making its first investment in the country.
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