Mittal Steel 'will be years ahead of its rivals'

Lakshmi Mittal said his self-named steel giant will be years ahead of his rivals after taking over European steel maker Arcelor SA, as he unveiled plans to invest up to $9bn (€7bn) in his native India.

The investment in the eastern state of Orissa is part of Mittal’s strategy to look to China and India for growth – a vision that he said was shared by Arcelor.