Capt Amarinder, Lakshmi Mittal discuss petrochemical project in Punjab’s Sangrur

Chandigarh, Sep 12: Punjab chief minister Capt Amarinder Singh on Monday met steel magnate Lakshmi Mittal in London to discuss a project for setting up petrochemical project in Sangrur district.

This was their second meeting in two months. They agreed to explore various initiatives to enhance the investments of Mittal-owned ArcelorMittal – the world’s largest steelmaking company – in Punjab, an official spokesperson said.

The spokesperson said the agenda for Monday’s meeting was to set up Rs 20,000 crore petrochemical plant in Bathinda, where the company already has a petroleum refinery. The projects will help generate large-scale employment and help the state generate revenues, he said.

Mittal stressed on the importance of petrochemical industries as an important source of industrial growth and asked the CM for support from the government, to which the latter assured all help, he said.

The two also discussed setting up of ancillary industries with investment ranging from Rs 1 crore to Rs 200 crore as a joint private-public initiative in Bathinda to give a boost to industrial development of the region.

Besides, having initiated a Rs 22,000 crore capacity expansion programme at the Bathinda refinery, Mittal’s company has also embarked on the process to set up a naphtha unit to produce basic raw material for plastic manufacturing.

Mittal said his company was keen on making further investments in Punjab, which has immense potential for business growth.

News Source: http://www.hindustantimes.com/