ArcelorMittal and Indiabulls will form a coal and iron ore mining joint venture aimed at owning captive mines in India.

The world’s largest steelmaker, ArcelorMittal, has proposed a series of steel projects in India while Indiabulls is developing power projects.

Indiabulls executive director Gagan Banga has been quoted by the Economic Times as saying that the joint venture will explore all the mining opportunities that India would offer.