Arcelor-Mittal has shortlisted three sites in Jharkhand for setting up a Rs 20,000 crore (Rs 200 billion) 12 million tonne steel project.

The three sites are at Galudih, Saraikela and Torpa, said Malay Mukherjee, one of the eight members of the Arcelor-Mittal management team.

A ten-member expert committee is arriving on Saturday to zero in on the three sites, he said adding the process would take some time.

Mukherjee, who flew in from London along with three other officials in connection with the 7-day trade fair, said the plant would be completed in three phases and 80 per cent of the detailed project report was complete.

The plant would require 8000 acres and 600 million tonne of iron ore per year, he said. Arcelor-Mittal has set up a stall at the trade fair being held on the occasion of its seventh foundation day.

The company, which has its own rehabilitation and resettlement policy, is reportedly waiting for the Jharkhand government's announcement of its own policy.

The steel giant had signed the MoU with the state government in October 2005 for a mining operation entailing an investment of Rs 40,000 crore (Rs 400 billion). Chief Minister Madhu Koda assured all help to the company and it had already got the coal blocks.