Lakshmi Mittal to focus on India and China

Mittal Steel is already the world’s largest steel maker. The company recently managed to negotiate a merger deal with the second largest steel company Arcelor and the combined entity would become a global giant in this industry.

The company now plans to expand its operations in the Chinese and Indian markets. Mittal Steel Chairman Lakshmi Mittal said in a statement: “At this point, we will focus on China and India.”

He added about the deal with Arcelor: “We never expected it would be so difficult, with so many hurdles and obstacles.” He is the richest Indian in the world and comes at fifth spot in the world.

He further said that the combined Arcelor Mittal group would be “at least five years ahead of competition”.

However, despite this huge size of the company, they would just control around 10 percent of the global steel market.