EXHIBIT 8.1 List of significant Subsidiaries The following is a list of Ispat International N.V.'s significant subsidiaries, each wholly-owned indirectly through intermediate holding companies: o Ispat Inland Inc., incorporated in the United States of America ("Ispat Inland"); o Ispat Mexicana, S.A. de C.V., incorporated in Mexico ("Imexsa"); o Ispat Sidbec Inc., incorporated in Canada ("Ispat Sidbec"); o Caribbean Ispat Limited, incorporated in Trinidad and Tobago ("CIL"); o Ispat Europe Group S.A., incorporated in Luxembourg ("Ispat Europe"); o Ispat Hamburger Stahlwerke GmbH, incorporated in Germany ('Ispat Hamburg"); o Ispat Stahlwerk Ruhrort GmbH and Ispat Walzdraht Hochfeld GmbH, each incorporated in Germany (collectively referred to as "Ispat Duisburg"); and o Ispat Unimetal S.A., incorporated in France, ("Ispat Unimetal").