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    South Asia
     Oct 22, 2005
Global steel majors weigh India entry strategy

KOLKATA - Global steel majors such as Corus Group Plc of the United Kingdom and the French giant, Arcelor, said they were planning strategy for entry into India.

"We want to come to India and it is high on Arcelor's agenda. However, we are now still thinking how to go for it," Arcelor Vice President (for international business) Alain Davezac said Thursday at the sidelines of the "Steel Metallics India 2005" conference, which is jointly organized by Metaljunction and Metal Bulletin.

The Corus director of commercial coordination, Duncan Pell, said, "we want to grow in Asia but we haven't yet decided whether to come to India or not."

Arcelor top officials in the recent past had also met the Union Steel Minister Ram Vilas Paswan and expressed their keenness to invest in the Indian market.

"They have shown interest in the Indian steel sector," Paswan



said after the meeting with Arcelor officials a few months before.

The Korean steel giant, POSCO, has already decided to set up a 10 million tonne steel plant in Orissa.

(Asia Pulse/PTI)

 

 
 



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