News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 18 years ago
Rediff.com  » Business » Lakshmi Mittal donates £2 mn to Labour Party

Lakshmi Mittal donates £2 mn to Labour Party

Source: PTI
Last updated on: July 14, 2005 12:06 IST
Get Rediff News in your Inbox:
Non-Resident Indian steel magnate Lakshmi Mittal has donated £2 million to the Labour Party.

The donation is equivalent to the amount given by the Science Minister, Lord Sainsbury.

The 55-year old Mittal, chairman and chief executive of Mittal Steel Company, the world's largest steel producer, which has operations in 14 countries across four continents, said he was making the donation as he supported the government's "long-term investment plans to further improve education, health, employment, skills and technology."

Three years ago he was at the centre of a controversy about Labour's links with business after it emerged that Blair had supported Mittal's bid for Sidex, the Romanian state steel company, two months after the businessman had made a donation of £125,000 pounds to the Labour Party.

Mittal is ranked the 54th richest man in the world by Forbes magazine, with an estimated net worth of £14 billion.
Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!