Luxembourg open to support ArcelorMittal on Indian investments

KOLKATA: Luxembourg is open to lend support to ArcelorMittal for taking forward its plans in India, its Ambassador Gaston Stronck said on Tuesday.

"We are ready to support if ArcelorMital wishes and seeks help," Stronck said when asked about L N Mittal recently saying that India was not his top priority for investments.

Arcelor Mittal, which had shifted its headquarters to Luxembourg, had approached the authorities for related licences and tariff for market access to India, said Stronck, who was speaking on the sidelines of a CII event here.

Though initially, tariff and market access matters were handled by the European Commission, but if ArcelorMittal is not satisfied with the outcome, then Luxembourg would take up the matter with the Indian government, he said.

ArcelorMittal had inked a Memorandum of Understanding with the Odisha government in December, 2006 to set up a 12 mtpa steel plant in Keonjhar district at an investment of Rs 40,000 crore.