London, Feb. 5 (PTI): Playing the China card to ward off the takeover bid by Lakshmi Mittal, Arcelor has said it would become a steel giant producing 100 million tonnes annually within five years and that its deals in the communist nation will be a key path to growth.

Michel Wurth, vice-president and chief financial officer of the Luxembourg-based Arcelor, hoped that investors would reject the $23-billion hostile bid from Mittal Steel, the world's largest steel producer owned by Mittal.

Arcelor could reach 100 million tonnes a year by itself ? by expanding its operations, particularly in Brazil, and acquiring high-value assets ? rather than by joining Mittal, he said in an interview published in The Observer today.

“We look to 100 million tonnes in five years. We have a good growth strategy,” he said.