Dutch steel groups ISPAT INTERNATIONAL and LNM HOLDINGS INTERNATIONAL will be merging before joining the US STEEL GROUP and setting up MITTAL STEEL, which will become the world's number one steel company, ahead of ARCELOR. In 2004 MITTAL STEEL is expected to attain a total turnover of USD 31.5 bn, with a production capacity of 70 million tones. The new steel giant will be active in 14 countries and employ 165,000.