Indian billionaire Lakshmi Mittal

Indian billionaire Lakshmi Mittal ArcelorMittal ADS, the world's largest steel producer controlled by Support Indian billionaire Lakshmi Mittal, plans to team up with China Oriental Group<0581>, a Hebei-based company principally engaged in the manufacture and sales of iron and steel products, to joint produce steel sheet pile products in China, the China Business News reported, citing Michel Wurth, a senior executive from ArcelorMittal, as saying.

According to the report, both parities will set up a joint venture, where ArcelorMittal will provide technologies and China Oriental Group will be responsible for the production.

Steel sheet piles are effective and environment-friendly building steel products which have been widely used in infrastructure construction, especially the foundation projects. As China starts strengthening investments in infrastructure, the market demand for steel sheet piles is expected to grow rapidly. In 2008, China's steel sheet pile imports were less than 50,000 tons but it surged to 200,000 tons last year.