Steel tycoon, Laxmi Narayan Mitttal is a London
based industrialist and a Forbes 100 billionaire.
He is the richest Indian in the world and one of the richest persons
in Britain.
Such is the charisma of Mittal that his company is now the world's
largest producer of steel. Mittal holds steel assets in South Africa,
Poland, Indonesia, and
Kazakhstan.
He shot to fame in 2006 for the saga involving his
acquisition of the
Swedish steel company Arcelor.
Born in a steel-making family in India, Lakshmi Narayan
Mittal opened a state-of-the-art mill in Indonesia in 1976.
His search for non-scrap
iron to feed the thriving plant took him to Trinidad and Tobago,
where he in 1989 took on Iscott, a government-founded steel firm
which was
losing more than $100,000 a day. Within a year, Iscott was making
a profit. And the stage was set for international expansion which
saw Mittal's LNM, buy plants in Mexico, Canada, Germany, Ireland
and Kazakhstan.
After acquiring and rejuvenating plants in Romania
and Algeria in 2001, South Africa in 2002, Chzech Republic in 2003,
he reached Poland in 2004.
In June 2004, he spent Rs 200 crore on the wedding
of his daughter, Vanisha, at the Palace of Versailles. Before that,
he had also bought the Kensington Palace in London for 70 million
pounds.
|
Terms and Conditions
