ArcelorMittal may exit Karnataka, Jharkhand too

World’s largest steel maker ArcelorMittal could exit two more projects in India because the progress has not been satisfactory. The projects in Karnataka and Jharkhand involved investments of $18 billion. The company had recently announced decision to pull out of its $12 billion venture in Odisha. Chairman Lakshmi Mittal, while commenting on the April-June quarter results, said ArcelorMittal may think of exiting these two projects if no substantial progress is made soon. “There is a progress in these states (Karnataka and Jharkhand), but at the same time, we would like to make it clear that these progresses are still not very satisfactory, we will have to continue to watch and see what is the progress.