The world's top steel maker, Arcelor Mittal, on Thursday said it would delay the launch of two new steel plants in India by two years because of the global economic crisis. "Given the long lead-time that is required for (start-up) projects, it would not be realistic to expect production to start before 2014," Luxembourg-based ArcelorMittal said in a written statement.
Arcelor Mittal plans to build two plants for around 30 billion dollars (22.7 billion euros) in the Indian states of Jharkhand and Orissa, with an annual capacity of 12 million tons of steel each.