Lakshmi Mittal, Britain’s richest and Krakatau Steel Indonesia

Posted on April 28th, 2008 in News

I heard that news from my television and really surprised knowing that Lakshmi Mittal become Britain richest man. Mittal has been living and start his steel business in Indonesia, but then choose to leave this country -maybe because bad business atmosphere down here. Here is quote from Indiatimes

“…According to The Sunday Times Rich List 2008, Lakshmi Mittal, Indian steel baron, has been ranked as Britain’s richest resident for the fourth year. The steel baron consolidated his position at the top by acquiring world’s leading steel company Arcelor last year. The combined business, Arcelor Mittal, produces 115 million tons of steel a year and accounts for ten per cent of market. …”

Steel industry is rose due to high demand from new industrial country such as from China. China demand for steel is rose high recently. After more than 30 years leaving Indonesia, who know that Arcelor Mittal will able perform acquisition for Krakatau Steel - largest steel company in Indonesia. What an irony

Beside Arcelor Mittal, Essar (India), Bluescope (Australia), Posco (South Korea), Nanjing Steel (China) also try to perform acquisition for Krakatau Steel.

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