Captain, Lakshmi Mittal discuss petrochemical project in Sangrur
CHANDIGARH: Punjab chief minister Capt Amarinder Singh on Monday met steel magnate Lakshmi Mittal in London to discuss the plan to set up a 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 ₹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 ₹1 crore to ₹200 crore as a joint private-public initiative in Bathinda to give a significant boost to industrial development of the region.
Besides, having initiated a ₹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 was quoted as saying that his company is keen on making further investments in the state of Punjab, which has immense potential for business growth.