NRI steel tycoon Lakshmi Mittal is expected to spend more than 50 million pounds over the next five years rebuilding Long Beach in Mississippi. Long Beach was devastated by the recent Hurricane Katrina.
According to PTI reports, Mittal, who is worth an estimated 14.8 billion pounds, will provide the labour, capital and expertise to restore the town, home to 17,000 people, which was wrecked by the hurricane Katrina.
The report adds that Mittal's donation will propel him into the ranks of Britain's most philanthropic citizens. He is also understood to have given large amounts to areas hit by the tsunami and is likely to give money to victims of last week-end's earthquake in Pakistan.
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