In 2006, Mittal Steel is expecting EBITDA (Earning Before Interest, Tax, Depreciation and Amortisation) to reach approximately $7.3 billion, compared with $5.8 billion in 2005, a company statement said.

The operating income is expected to shoot up to $6.1 billion, compared to $4.7 billion in 2005. Besides, the company has pegged its shipments for 2006, at approximately 60 million tonnes.

"The outlook for the steel industry is positive, supported by strong global growth, especially from high-growth, developing markets. Mittal Steel is ideally placed to benefit from these dynamics, which has allowed us to identify net EBITDA improvements of $3.3 billion over the next three years," Mittal Steel Company chairman and CEO Lakshmi N Mittal said in a statement.

The company said it expects the EBITDA growth to be propelled through five key areas like low-cost brownfield growth and higher utilisation of available capacity; value-added production capacity expansion, productivity and operational improvements, expansion of low-cost mining assets and synergies from ISG and Kryviy Rih steel plants in the CIS.

The company has billed a steady cash flow to the tune of $6 billion in 2008.