UK, July 30, 2007
Sant Parkash Singh
UK NRI Steel tycoon Lakshmi Mittal signed an agreement with the
Polish government for the acquisition of the largest steel plant
in Poland, Polskie Huty Stali S.A (PHS) at a cost of 2.3 billion
- With this agreement, Mittal will capture 90 per cent of the
steel production in Poland
- In 2004, he had already acquired 69 per cent of the shares
of Polskie Huty Stali .The total cost of the was US$2 billion.
. LNM invest over US$600 million in the business.
- Mittal Steel Poland consists of four plants located in Dabrowa,
Cracow, Sosnowiec and Swietochlowice- producing around 6.5 million
tons of crude steel annually.
Polskie Huty Stali transforms the group into the leading steel
producer in central and Eastern Europe with production of around
15.5 million tonnes a year. It has headquartered in Katowice.
Mittal Steel has changed the Polish profile in the world steel
market and has become the largest investor in the country.