Arcelor keen on steel manufacturing in India

Arcelor keen on steel manufacturing in India

By agencies   |   Wednesday, 30 March 2005, 08:00 Hrs
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NEW DELHI: After South Korea’s Posco announced investing $8 billion for a steel plant in Orissa, the world's second largest steel maker Arcelor has expressed its desire to explore opportunities for investing in India.

Arcelor representatives have given positive response and said they will send a company delegation for fact-finding to arrive at concrete investment plans for manufacturing presence in India.

"The meeting with the Indian steel minister Ram Vilas Paswan was good. Arcelor has shown interest for India in the steel sector but no concrete proposal was discussed," Luxembourg ambassador Paul Steinmetz said.

Meanwhile, another Luxembourg-based engineering major, Paul Wurth is trying to forge long-term alliance with Steel Authority of India (SAIL) to supply technology for its $5.7 billion expansion program.

"We are talking to Sail officials for contracts for SAIL expansion and we have already made several presentations and would continue to do so. We are already working with Sail and Tisco projects," Horst Kappes, president & CEO, Paul Wurth India said.

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