In recent years, the world’s largest steel company, ArcelorMittal had announced plans to built three plants in India, two 12Mt/y units, one located in Jharkhand and one in Odisha and a 6Mt/yin Karnataka, for a total investment of INR1300bn (US$25.5bn).

Chairman and CEO, Lakshmi Mittal, has expressed disappointment at the rate of growth of India’s steel sector which was 5% in 2011 lagging the 6-7% growth in GDP. The growth of steel, he says, should be 1.5 times that of GDP.