Acelor-Mittalā??s Keonjhar plant may start in 2011
NI Wire
New Delhi
Wed, 01 Aug 2007:
August 01: One of the two proposed Greenfield steel ventures by Arcelor-Mittal can become operational from 2011, chief executive officer of Mittal steel IndiLtd.
Sanak Mishra expressed such prospects after the meeting of the Indian institute of Metals.
Referring to the Keonjhar steel plant in Orissa, CEO told that construction activity is likely to start by 2008 instead of earlier expectation of its being started in 2009 though the major chunk of the construction would be completed in 2009 to make it fully operational by 2011.
He informed that they will be in possession of the detailed project report of the 12 MT steel plant within 15 months the task which has been assigned to Dastur & Co. as and when they receive the report the activity will start on the site and the first phase of the plant will be commissioned by 2011 hopefully.
Revealing about the product strategy, he mentioned that company has done survey on the needs and demands available in the market on the basis of that only the products will be finalized.
Chief official also hinted at the advantage the company automatically gains in field of technical expertise as a consequence of the merger with the French steel giant. Though he did not highlighted the amount of benefit they will accrue from this cost saving phenomenon.
Orissa project though the first venture after the acquisition of Arcelor but not the only one in the list. Arcelor-Mittal planned another project in Jharkhand where two sites are proposed but not finalized.
Mishra told that the proposed sites in Jharkhand are Topra and Saraikela but they will be finalized only after the government declares its relief and rehabilitation policy.
Arcelor-Mittal is the largest steel making company by volume and by turn-over head quartered in Luxemburg with 49.4% share held by Mittals and 50.6% by Arcelor.