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Mittal in Orissa to discuss likely investment plans
Friday, July 7 2006 11:35 Hrs (IST) - World Time -

Bhubaneswar: India-born global steel magnate Lakshmi N. Mittal arrived in Orissa Friday to discuss with Chief Minister Naveen Patnaik possible investment plans in the eastern state.

The owner of Mittal Steel flew in from London in his own private aircraft around 9.30 a.m. at the Biju Patnaik international airport. Top state government officials, including state Chief Secretary Subash Pani and Steel Secretary L.N. Gupta, received him at the airport.

Mittal went straight to the Trident Hilton hotel where he will stay during his brief visit here.

"He will meet the chief minister at about 10 a.m. at the state secretariat," Baisnaba Mohanty, director of the state public relations department, told sources.

Mittal, who recently acquired European steel giant Arcelor, is expected to have a nearly two-hour meeting with Patnaik, after which he is to fly to New Delhi to meet Prime Minister Manmohan Singh, the official said.

Mittal is also expected to meet Petroleum Minister Murli Deora and other central ministers in what is being described as a 'thanksgiving visit"'for the support India had extended during his takeover bid for Arcelor.

He is slated to review with representatives from Jharkhand plans for setting up a 12-million-tonne steel plant in that state with an estimated investment of Rs.400 billion ($8.6 billion). He had signed a memorandum of understanding with the Jharkhand government in this regard last year.

The proposed plant in Jharkhand is the first of Mittal's projects in India. The Friday tour is his first India trip after successfully concluding the Arcelor deal.

Mittal's Orissa visit assumes significance as his project in Jharkhand has not made much progress with the state government reported to be seeking a firm investment commitment from him.

IANS









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