Worst is behind us, pre-recession demand in 2-3 years: Mittal |
|
- Steel firms scale down project size
- XLRI grooms global managers
- Usha Martin can be a good long-term bet
- Steel minister backs ban on iron ore export
- "Marketing Management: A Decision Making Approach" - 5th book from Prof P Venugopal, XLRI
- XLRI-Packard Foundation Workshop for Public Health Professionals
- SAIL lines up Rs 1,500 crore for domestic coal mines
- Apollo Partners with XLRI to Train Healthcare Professionals
- 13 hurt in clash at Bokaro Steel Plant
- XLRI Marketing Association plans Research Laboratory
- Blacklisted company gets CWG contract
- Usha Martin Q1 net up 31% to Rs 42 cr
- Steel Strips Wheels to inaugurate Jamshedpur truck wheel plant
- Doing Business with Australia showcased in Jharkhand
- Karnataka Claims to Crack Land for Factories Problem
London: Emphasising that the worst is over for the global steel industry, ArcelorMittal chief L N Mittal on Friday said that he sees “pre-recession” demand to resurface in the next 2-3 years. The NRI billionaire also asserted that the steel maker is bullish on India plans and committed to the investments there. “For (the) pre-recession demand to come back, I give 2-3 years...Everyone believes that the decline has stopped. The worst is behind us and the question which we are asking ourselves is what is going to be the shape of recovery,” Mittal, who is the chairman and chief executive of the world’s largest steel company, told a private news channel. ArcelorMittal is committed to its proposed Rs 1-lakh crore investment in India, to set up two 12-MT per annum steel mills in the state of Jharkhand and Orissa.
“I am very optimistic about India. I am in fact bullish about India. We are committed to India, we will invest in India for our steel companies,” Mittal noted. The company had earlier this year said the commercial operations of its proposed steel plants would be delayed by at least two years to 2014.
http://www.indianexpress.com/news/Worst-is-behind-us--pre-recession-demand-in-2-3-years--Mittal/481817







