ArcelorMittal, Posco to start building India Plants

ArcelorMittal, Posco mull plant construction. ArcelorMittal, and Posco may start building $32 billion of factories in India next year as domestic demand defies the global recession. The world’s biggest steel maker, ArcelorMittal, and Posco may start building $32 billion (around Rs1.55 trillion) of factories in India next year as domestic demand defies the global recession, steel minister Virbhadra Singh said. “Posco is very keen and would like to start tomorrow,” Singh said in an interview. “I’m hopeful Posco will begin work next year. ArcelorMittal should also be able to start next year, at least on one of its two plants.”