ArcelorMittal to Invest $25 Billion in India
May 30, 2008
ArcelorMittal has committed to investing $25 billion in India. Approximately $20 billion will be invested in two steel plants – each with a capacity of 12 million tons/year. The plants are being set up in Jharkhand and Orissa and are expected to be commissioned in 2011-2012. About $500 million has been earmarked for corporate social responsibility programs, which include rehabilitation and resettlement of the villagers affected by the steel projects.