China's policy no dampener for Mittal Steel

摘要

China's latest steel policy has resulted in Mittal Steel, the world's largest steel maker, reducing its stakes in Hunan Valin based in the country's central province of Hunan. But Mittal Steel is considering other proposals for investments in the Chinese steel industry. "We and Hunan Valin both had 37 percent of the firm. But we agreed to reduce our stakes by 5 percent at the request of the authorities in Beijing," Sridhar Krishnamurthy, Mittal Steel's country manager for China said.