ArcelorMittal 2nd Firm This Week To Dump India Plans

Law360, New York (July 17, 2013, 4:32 PM EDT) -- Powerhouse steelmaker ArcelorMittal SA said Wednesday it would scrap $12 billion plans for a steel plant in India’s Odisha state after a series of holdups, making it the second company in as many days to cancel major infrastructure plans in India.

The company’s decision to call off the 13-ton-per-year facility comes after it first sketched plans and signed a memorandum of understanding with officials in 2007. Since then, ArcelorMittal has struggled to acquire land and an iron ore mine to supply the proposed facility, it said....
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