Author: Avijit Bajpai

Laxmi Mittal, CEO Arcelor Mittal, still connotes India as a favourable destination for pouring investments for tapping growth opportunities in various sectors, despite Singur mayhem.

The steel magnate is interested in some more greenfield projects in Jharkhand and Orissa and hence urged the state governments to speed up the process of providing approvals to these projects, as these delays are causing cost overruns and these projects may go up to 30 billion due to these.

Mittal stated that the Singur tragedy won’t fade the lustre of India as an investment hub, as the country has plethora of avenues that are still to be explored; hence, he denied any sort of reviewing of investment plans in India.

In a press conference Mittal stated that he has formed a consortium of 20 experts to watch over these projects in India, which have already preset some India-specific priorities that include,  corporate-social relationship, effective health and safety measures, and growth potential of the country.

The company is looking forward to produce 25 million tonnes of steel from the projects in Orissa and Jharkhand.

These investments are undoubtedly the biggest in India and would definitely help in augmenting the growth of the country holistically.