Thursday November 05, 2009

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By Sam Devraj  ( Assistant Editor )

New destination: Karnataka may offer alternate sites

ARCELORMITTAL, the world's largest steelmaker, is looking for alternative sites to set up a steel plant in India, after delays in getting land at existing locations, the chief executive of its Indian operations told reporters. “We are looking at opportunities in India. We may look at alternate sites. It could be within the states,” Vijay Bhatnagar said at an industry conference. The group has faced delays for its $20bn (£12bn) plan to build two large steel plants in the states of Jharkand and Orissa, to give it a presence in one of the few steel markets in the world still seeing demand growth. Earlier, India’s junior steel minister said Karnataka was one that was offering an alternative site for the company’s steel project.

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