ArcelorMittal decides to scrap Odisha steel project

NEW DELHI (Reuters) - ArcelorMittal , the world's largest steelmaker, will scrap its planned 12 million-tonne-a-year steel plant in Odisha, a spokesman said.

The company will continue with its projects in states of Jharkhand and Karnataka, Ritesh Sinha said.

The announcement comes a day after South Korea's POSCO <005490.KS> said it was ditching a project to build a 6 million tonnes a year steel plant in Karnataka and focus on its own project for a 12 million tonne a year plant in Odisha.

(Reporting by Krishna N Das; Editing by Jo Winterbottom)