NEW DELHI: LN Mittal on Wednesday said his company Arcelor Mittal intends to set up fresh steel capacity of 24 million tonnes a year through separate plants in Orissa and Jharkhand and asked the Centre to expedite allocation of captive mines for the purpose.

After a meeting with steel minister Ram Vilas Paswan, Mittal said raw material and infrastructure support from the government were a must for setting up this capacity - which is double the capacity he had originally planned to create in India at an investment estimated at $18 billion. Though Mittal is a late comer to India, the investment will make him the single-largest FDI investor in India.

Mittal’s son and Arcelor-Mittal CFO Aditya Mittal said detailed project reports had been prepared after completion of feasibility studies “but the issue of mining lease remained a sticking point. We have even placed orders for equipment worth $15 million. We are waiting for the mining lease” . Mittal senior made it clear that he wanted ore from the Chiria mines and would not settle for anything less. “When we signed the MoU with the Jharkhand government, they suggested that the mines (Chiria) would be suitable for us. We will meet CM Madhu Koda and get a fair idea on the issue.”

Posco, which is planning a steel plant, was expected to be the largest foreign investor with investment of $12 billion planned in the Orissa facility for which land and mining rights are still being tied up.

Mittal also paid the first instalment (Rs 500 crore) of the Rs 3,506 crore investment he is making for a 49% stake in HPCL Rs 18,919 crore Bhatinda refinery.

Mittal also said he would transfer the 50% equity acquired in LUKOIL’s Kazakhstan assets to his joint venture with ONGC Videsh - ONGC Mittal Energy Ltd.