Global steel giant ArcelorMittal announced that it has decided not to continue its planned construction of an integrated steel plant and a captive power plant in Odisha State, India. ArcelorMittal's initial planned construction since December 2006 of a 12 million tons integrated steel plant in Keonjhar district has faced significant external delays by reason of unable to acquire the requisite land for the steel plant, nor has it been able to ensure captive iron ore security that is required for the project, therefore has concluded that it will stop progressing the steel plant project in Keonjhar at this stage also by considering the current economic climate. According to ArcelorMittal, the decision will not affect its plans for two other projects in Jharkhand and Karnataka in India.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65421&division=A9
