Agencies
Ahmedabad, Mar 24 : Having experienced delays for his steel projects in Orissa and Jharkhand, steel magnate Lakshmi N Mittal said here on Saturday that India is not on his top priority for investments. "I don't want give any timeline for our India project because we have experienced so much of delays.
India is not on my top priority for investments. It is a top priority as a country but not for investments," said Mittal, chairman and chief executive officer of ArcelorMittal, on the sidelines of the 48th Convocation of the Indian Institute of Management, Ahmedabad (IIM-A) where he was invited as the chief guest.
Earlier in his convocation speech, Mitta said, "European steel demand is down 30 per cent compared with pre-crisis levels and given demand is not expected to return to pre-crisis levels even by 2020 in Europe, we have to take action (closure of two blast furnaces at Fornange plant in France) to re-size our operating footprint to the reality of the demand scenario." However, on the sidelines of the convocation, Mittal said the the global steel demand was looking to grow. |
