LN Mittal to undertake India visit from July 7
The NRI steel tycoon will review his India plans, just days after reaching an agreement with Arcelor.india Updated: Jul 05, 2006 12:55 IST
NRI steel tycoon LN Mittal will arrive in New Delhi on July 7 to review his India plans, just days after reaching an agreement to merge Mittal Steel with its nearest rival Luxembourg-based Arcelor to create the world's largest steel conglomerate.
"Mittal has already evinced keen interest in India and its booming economy, which would provide an excellent platform for his expansion plans," Mittal Steel sources said.
Besides steel and mines, Mittal is also learnt to have expressed his interest in the country's hydrocarbon sector. He would probably take up the issue when he meets Prime Minister Manmohan Singh and Petroleum Minister Murli Deora during his visit to the national capital.
He would also review the progress made in the 12 million tonne steel plant project in Jharkhand. It was likely that he could also talk to the media on his expansion plans in India vis-à-vis China, sources said.
Mittal's visit comes barely days after the $33 billion agreement to merge Mittal Steel and Arcelor, to establish the world's largest steel group Arcelor-Mittal with a capacity of 120 million tonnes.
The visit assumes significance as Mittal had said last month after the Arcelor Board recommended the merger that his next focus would be India and China.