Mittal's LNM to set up $100-m facility
London, Jan 18, 2004
LNM Group, headed by NRI industrialist Lakshmi N Mittal, has signed
a Memorandum of Understanding to set up a cold rolling and coating
plant in China. The Greenfield project would involve an investment
in the region of $100 million in the installation of cold roll and
hot dip galvanising line over the next two years, a spokesman of the
LNM Group said. The plant is expected to have nominal capacity of
up to 400,000 tonnes per year.
The MoU was signed with the administrative committee of
the Yingkou Economic and Technial Development Zone and the plant will
be set up in Yingkou. China has been the most dynamic driver
of the steel industrys growth over the past year and will remain
so over the next decade.