Imperial - here's probably why. India needs its iron ore. I posted this a couple of weeks ago. Even if Accelor has 'captive' mines I reckon they'll need all that can be produced. Note they arwe characterised as mega steel projects
NEW DELHI: ArcelorMittal — the world's largest steel company — hopes to complete its two mega steel projects of 12 million tonne each in India, on time. The company's president and chief financial officer Aditya Mittal told the Times of India that the projects are on target and would be implemented as per schedule.
The group is working to implement both the projects at a total cost of $20 billion. The projects would be developed in two phases of six million tonne each. Each plant will also have captive power units also.
However, there is some controversy over allocation of Chiria mine at Jharkhand for captive use of iron ore. Mittal said the issue would be sorted out soon.
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