The world’s largest steel producer Arcelor Mittal has expressed interest to set up plants in India. The company, in a statement said that it will make investment in India. It also revealed that cost overturn and Singur like issues will not deter it from investing in India.

ArcelorMittal’s chairman & CEO, Laxmi Mittal said Singur like cases may happen in any part of the world. People can oppose a particular project but the investment issue is linked to the overall growth of the country.

The cost of proposed steel plants by the company has increased in three years. The company is planning to set up two steel plants in Jharkhand and Orissa.

The construction of these plants is likely to start in 2009, with a target completion date of 2012The company has set a target to complete the projects by 2012. The company is planning to invest $50 billion to expand its steel making capacity by 2012.