ArcelorMittal seeks new sites in India after land delays

Posted 11 6 2009 10:07PM

NEW DELHI (Reuters) – ArcelorMittal, the world's largest steelmaker, is looking for alternative sites to set up a steel plant in India, after delays in getting land at existing locations, the chief executive of its Indian operations told reporters.

"We are looking at opportunities in India. We may look at alternate sites. It could be within the states," Vijay Bhatnagar said at an industry conference.

The group has faced delays for its $20 billion plan to build two large steel plants in the states of Jharkand and Orissa, to give it a presence in one of the few steel markets in the world still seeing demand growth.

Earlier, India's Junior Steel Minister said Karnataka was one that was offering an alternative site for the company's steel project.

(Reporting by C.J. Kuncheria; Editing by Ian Geoghegan)