Page 6 - Arcelormittal

ArcelorMittal-Nippon Steel participating in iron ore auctions in Odisha

CEO Dilip Oommen said any steel company has to securitise its sources of raw materials and AMNS is no different

ArcelorMittal-Nippon plans to take control of captive jetty at Hazira

ArcelorMittal-Nippon Steel say that this was a captive licence for the steel plant and the captive jetty should remain with the plant

In a fresh twist, ArcelorMittal's OSPIL resolution plan challenged

The challenge to the ArcelorMittal resolution plan has come from Srei Infrastructure Finance as a secured financial creditor

Odisha gets 255 bids for auction of 20 merchant blocks; 87 firms in fray

All top steel makers, secondary steel players, sponge iron producers, pellet manufacturers and merchant miners from Goa and Odisha are vying for the blocks on offer

Gruelling battle for 865 days: The making of Rs 42,000-cr Essar Steel deal

Getting to this point wasn't easy. The road was riddled with challenges as much for ArcelorMittal as it was for stakeholders

ArcelorMittal signs deal for sale of 50% shipping biz stake to pare debt

ArcelorMittal's equity contribution, however, works out to around $1.14 billion, which is likely to be the net debt at the group level.

ArcelorMittal and Nippon Steel complete acquisition of Essar Steel

ArcelorMittal announced that Aditya Mittal, president and CFO of ArcelorMittal, had been appointed chairman of AM/NS India and Dilip Oommen, the CEO

Why the Essar judgment has scored a win above all for common sense

The verdict will rekindle hope in the integrity of India's bankruptcy process, but it will take a lot more work to allay concerns about its effectiveness

Essar Steel lenders may get more than Rs 42,000 cr from resolution process

Lenders and ArcelorMittal have mutually agreed to appoint Grant Thorton for an audit of Essar's Ebitda

NCLAT dismisses ArcelorMittal plea over debt-ridden EPC Construction

The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the CoC.

ArcelorMittal keen to expand presence in India, govt assures full support

Global steel major ArcelorMittal is keen to expand its presence in India, Steel Minister Dharmendra Pradhan said on Saturday. Pradhan, who met ArcelorMittal Chairman and CEO Lakshmi Niwas Mittal here, assured him of full support to leverage the country's large market. The meeting comes a day after ArcelorMittal initiated payment of Rs 42,000 crore for acquiring debt-laden Essar Steel, which it had won in an insolvency process. "Had a fruitful meeting with Mr. Lakshmi Niwas Mittal, Chairman & CEO of ArcelorMittal @ArcelorMittal. We had wide ranging discussions on ways to boost domestic steel production through technology upgradation & attracting more investments in the steel sector, " Pradhan said in a tweet. In another tweet, the minister said ArcelorMittal is keen to expand its presence in India and he has assured the company of full support and cooperation to help leverage India's large and diverse market, rising demand and investor friendly regime. The decks for acquisition

ArcelorMittal set to close Rs 42,000-cr Essar Steel deal next week

Essar Steel will be jointly owned and operated by ArcelorMittal and Nippon Steel Corporation

Italy proposes new plan to rescue ArcelorMittal plant; 8,000 jobs at stake

Italy considers the steel mill a strategic industrial site and faces pressure from unions, which are trying to protect the 8,000 jobs at risk

Lenders declare ArcelorMittal highest bidder for Odisha Slurry Pipeline

Lenders pick ArcelorMittal over Thriveni Earthmovers

ArcelorMittal agreed to negotiate on steel mill plan, says Italian premier

Conte and his economy and economic development ministers held four-hour talks ending Friday before midnight with ArcelorMittal's top executives

'More innovation': Steel firms welcome ArcelorMittal's entry to India

Presence of more companies in the market will lead to more innovation, quality and R&D activities, said domestic steel players on Thursday while reacting to the entry of global steel giant ArcelorMittal in India. "We don't see ArcelorMittal as a challenge," JSW Steel Chairman Sajjan Jindal told PTI on the sidelines of the ISA Steel Conclave here. More the number of players, more the research & development (R&D) activities, innovations, quality in the market, he added reacting to a question how will the ArcelorMittal's entry benefit the consumers. Jindal Steel and Power Chairman Naveen Jindal said, "We see its (ArcelorMittal's) entry as a positive step." Tata Steel Chief Financial Officer Koushik Chatterjee also said there should be competition in the market. Steel Authority of India Ltd (SAIL) Chairman A K Chaudhary said, "ArcelorMittal's entry will promote healthy competition in market." The industry looks forward to work with them in future, he added. Last week, the ...

In a weak market, homecoming costs Lakshmi Mittal Rs 49,670 crore

High value of stressed steel assets reflect the uncertainty of putting up a greenfield projects in India apart from the cost which is $1 billion for a million tonne capacity

Italy files appeal in a bid to stop ArcelorMittal dropping steel deal

The Italian government said it filed a legal appeal on Friday designed to prevent global giant ArcelorMittal from walking away from a 2018 deal to buy Europe's largest integrated steel-making mill. Rome considers the troubled Ilva steel mill in the southern city of Taranto a "strategic" industrial site, Prime Minister Giuseppe Conte said in a statement. "The government will not allow the deliberate closure of the blast furnaces" at the site as it would amount to ending any chance of investment to make the site viable and safeguard some 8,000 jobs, he said. Conte added that if ArcelorMittal walked away from the badly polluted site it would be "a clear violation of contractual commitments and cause grave harm to the national economy." He said the group would "have to answer in the courts" and face paying damages to the Italian state. The Taranto plant in the south of Italy is mired in controversy because experts believe that some 7,500 people have died in the surrounding area as a .

The homecoming of Lakshmi Mittal: A story of long waiting periods

Lakshmi Mittal's first attempt to bring home ArcelorMittal was in 2005. Amid much fanfare, the company signed a deal with Jharkhand chief secretary P P Sharma for a 12 mt steel plant

Losing steel arm to ArcelorMittal to hurt Essar India; revenue may fall 97%

Revenue hit of 96% is combined impact of earlier divestment in Essar Oil & losing control of Essar Steel