Mittal plans to build steel works in Jharkhand

Mittal plans to build steel works in Jharkhand

Mittal Steel plans to establish a 10 million-ton steel works in India's Jharkhand state, according to Indian sources. The project will cost an estimated Rupees 250 billion ($5.5 billion). Sources indicate that the parties will sign a memorandum of understanding once the state government approves the proposal. The first phase of the project entails construction of a 5 million-ton capacity plant. Construction of a similar unit will comprise the second phase of the steel works. The location and other details of the steel works have yet to be discussed.