It has been reported by the local Kyrgyz media that Lakshmi Mittal, owner of the world's largest steelmaker ArcelorMittal, initiated the construction of a new ferroalloy mill in the Jalal-Abad region of Kyrgyzstan at the end of April.
The investment in the new project totals about $65 billion and will be financed by Ferro Alloys, a firm indirectly owned by Lakshmi Mittal. The new plant is planned to be commissioned in 2009.
In addition, Ferro Alloys plans to begin the development of a coking coal deposit in Kyrgyzstan's Osh region.