ArcelorMittal give up the project of 12 million tons steel plant in India

ArcelorMittal , the global steel giant announced that the company has decided not to plan its integrated steel mills and captive power plant in Odisha , Inida .

ArcelorMittal planned to build a 12 million tons integrated steel mills in Keonjhar India and signed a memorandum of understanding with Odisha government on December 2006. However, the project faces significant external factors so that have been postponed. ArcelorMittal steelworks neither obtained the necessary building land not ensure the safety of iron ore, which is bound to implement this project. Therefore, considering the current economic environment, ArcelorMittal said it would not pursue plans of Keonjhar mills.

ArcelorMittal said that this decision will not affect the other two items in Jharkhand and Karnataka ,India.