Mittal will allocate land for a plant in India

The government of the Indian state of Karnataka, within 30 days will allocate 1,500 acres of the steel giant "ArcelorMittal" for the construction of the plant. This was stated by the Prime Minister of the State B. Yeddiurappa, according to Metal Bulletin. "We expect that" ArcelorMittal "will begin construction of the plant by May," - he said. It is known that investment in the project are estimated at $ 6 billion company will annually produce about 6 million tons of steel. Earlier it was reported that the corporation "ArcelorMittal" has agreed to open a revolving line of credit amounting to $ 6 billion The agreement will enter into a steel giant with a consortium of banks. Coordinators of the operation were the banks Citigroup Global Markets, Credit Agricole Corporate, Investment Bank and HSBC. It is assumed that the company borrowed money to send to the financing of corporate needs. Holding "ArcelorMittal" the world's largest steel producer. Concern is active in over 60 countries and produces a tenth of all world steel. The Group employs about 320 thousand people. Ministry of Industry