Steel major company, ArcelorMittal (ISPA. AS) is on the edge to shut down its $20 billion plan of setting up two steel plants in India owing to problems in acquiring land. The two steel plants were expected to be established in the state of Orissa and Jharkhand but farmers are not ready to sell their lands, which forced the company to rethink their plan.

While talking to reporters, Mr. Lakshmi Mittal, owner and chairman of ArcelorMittal said, “If we cannot make progress in these two sites we will have to abandon the idea of starting the projects there and look for other places in India for our expansion.”

Mr. Mittal want to increase the presence of ArcelorMittal in the country where was born.

While expressing his views on steel plants in India, Mr. Mittal said, “I am still committed to build at least one steel plant in India, but dropping my plan for two plants producing together 24 million tonnes of steel a year by 2015 would delay a sizeable presence in India by several years.”