Arcelor Mittal to focus on Indian market:Mukherjee

Bhubaneswar, Dec 21 (UNI) Global steel major Arcelor Mittal will focus on the Indian market keeping in view the increased GDP growth rate and tremendous development taking place in the country, company group management board member Malaya Mukherjee said.

Mr Mukherjee, who signed a MoU with the Orissa government today, for setting up of a 12 MTPA steel plant, the second such project after Jharkhand where it had already signed the MoU, told newsmen that the company would like to produce high value product in the global market.

Stating that the Arcelor Mittal as a growth oriented company which has grown from 2 MTPA in 1992 to 150 MTPA, he said ''our focus would be to get quick returns from the investment''.

Mr Mukherjee said the Orissa plant would be the most modern and most productive adding that they want to move first and start the work immediately.

The preliminary report, Mr Mukherjee said, would be completed within six months and they would shorten the time schedule for the DPR from 24 months to 18 months.

He said the company would be able to resolve the land acquisition, water, mining lease and power problem. The rehabilitation and the land acquisition would be given full attention while the water, environment and conservation would be a part of the design of the steel plant, Mr Mukherjee remarked.

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