India investments have never been priority for Mittal Lakshmi

Commenting on the delays in the development of his Indian projects, the chief executive director of Arselormital Lakshmi Mittal said that India is not included in the main priorities for the investment of the largest steel manufacturer in the world. This was reported by Indian NDTV.

"I do not want to give any terms for the implementation of my projects in India. This country is not a priority when considering investment issues," he said on the sidelines of the Indian Institute of Management in Ahmedabad.

Recall that back in 2006, Arselormital signed a memorandum of mutual understanding with the government of the Indian state of Oriss, which provides for the construction in the city of Keonizhar of the largest metallurgical plant with a capacity of more than 12 million tons of steel a year. However, no investment was received.

The second major project of Mittal in Jarchanda also faced a financing delay.

Meanwhile, the chairman of Arselormital is confident that "despite the fact that the European demand for steel has decreased by 30%, there are many countries in America, in developing regions, in countries such as India, China, the countries of Africa in which there is a steady increase in metalwork consumption. World consumption will grow by 3-3.5% and we must take measures to bring to real demand," said Lakshmi Mittal.