Arcelor Mittal is to spend $35bn adding to the capacity of its steelmaking plants around the world, Lakshmi Mittal, the company’s chief executive and main owner, said Monday. The spending plans, which focus partly on adding steel capacity in India, are justified by strong demand for steel in most countries, Mr Mittal told the FT. The recent credit problems that have affected banks and financial markets were having “no impact” on the majority of the group’s customers, he added.

This entry was posted by Gwen Robinson on Tuesday, September 25th, 2007 at 5:38 and is filed under Capital markets, M&A, People. Tagged with arcelor mittal. Edit this entry.