The Hindu : Business : Mittal keen to enter Indian steel market

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Wednesday, Aug 01, 2007
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Mittal keen to enter Indian steel market

Special Correspondent

Will set up 12 m tonne project in two phases

Company to leverage ‘group synergies’
IIM plans CoE in Chennai, Jamshedpur

KOLKATA: Mittal Steel India plans to begin site activity at its Keonjhar project in Orissa by 2008 and is keen to enter the Indian steel market by 2011, Sanak Mishra, CEO, said. The project would be L. N. Mittal’s first greenfield venture.

Talking to the media after the annual general meeting of the Indian Institute of Metals (IIM), he said the company would now draw on ‘group synergies’, following the merger between Mittal Steel and Arcelor, to compress implemention schedules and also improve overall quality.

“We are targeting the domestic market mainly and the 12 million tonne project will be set up in two phases, each of which would have a mix of long and flat products”.

On the Jharkhand project, Mr. Mishra, former Managing Director of Rourkela Steel Plant, said the company was ready with two sites — Seraikela and Torpar. “We will be in a position to announce schedules once the R & R policy was announced.”

Later, at a press meet, IIM’s outgoing president, B. Muthuraman, Tata Steel Managing Director, said the institute was setting up a centre of excellence (CoE) and learning each at Chennai and Jamshedpur. It would also carry out a study to guage the human resource inputs needed from the metals sector by the booming steel sector which had many projects on hand.

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