In India, the company has a long-standing plans for setting up two greenfield steel plants and recently got a operational start with acquisition of 35 per cent stake in domestic firm Uttam Galva Steel to become a co-promoter.
Besides, there are speculations that the firm, is looking to increase its stake to become a controlling shareholder in London-listed Coal of Africa that it already holds 16.3 per cent shares. “In line with our adjusted financial policy and cautious view of the recovery and the assumption that it will be slow and progressive, we are beginning to re-examine selected M&A opportunities,” the ArcelorMittal spokesperson said when asked about the steel maker’s inorganic growth strategy. Regarding the firm’s plans for India the spokesperson asserted that India is a very exciting country.
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