Vitoria (Brazil): The world’s biggest steelmaker ArcelorMittal is formulating a 15-member team to finalize the blueprint for setting up 12-million-tonne integrated plants in Jharkhand and Orissa at a cost of Rs80,000 crore ($20.3 billion).
“Our Group Management Board (GMB) has approved the constitution of a 15-member technical team for our steel projects in Orissa and Jharkhand under the supervision of our chief technical officer Pierre Gugliermina,” ArcelorMittal Brazil chief executive officer Jose Armando Campos told PTI.
He re-affirmed ArcelorMittal’s determination in completing these projects and said that Indian engineering company M N Dastur & Co will prepare the detailed project report for these plants.
Campos said the study conducted by the CTO on these projects would complement the Dastur & Co’s study, which is likely to be over by June.
ArcelorMittal is said to have identified Torpa and Kamdara blocks in Khunti and Gumla districts of Jharkhand as prospective sites for its proposed plant.
South Korea’s Posco, the world’s third largest steelmaker by output, is also in the process of setting up a 12-million-tonne greenfield manufacturing plant in Orissa.
Campos said “our Brazilian operations are a classic example of integrating plant management with Corporate Social Responsibility. Our company is the most respected in Brazil and we hope to replicate this model in India as well.”
ArcelorMittal’s Brazilian operations contribute 10% to the group’s operating margins of $17 billion.