Bhubaneswar: In a bid to enter Indian steel market, Steel major ArcelorMittal is considering to buy stressed assets of Bhushan Steel, which has a good presence in auto steel categories with a 5.6 Million Tonne (MT) integrated steel plant in Odisha. According to reports published in national media, LN Mittal-led ArcelorMittal has submitted an expression […]
Bhubaneswar: After managing to come out of the cobweb of confrontations and controversies in 2016, the Odisha government will set its feet on its fourth year of its fourth term in 2017. But some of the challenges it had encountered last year will chase like a shadow in 2017. Out of the major challenges the […]
London: ArcelorMittal is steeling itself against flooding of cheaper imports, from China in particular, that is eating into its profitability. The world’s largest steelmaker, led by NRI billionaire Lakshmi N Mittal, has registered a net profit of USD 1 billion for the quarter to March 2017, but at the same time seen a rise in […]
New Delhi: ArcelorMittal today said it has voluntarily surrendered its stakes in 2 coal blocks, Rampia and Dip side of Rampia, following its decision to exit from the USD 12 billion steel project in Odisha in July last year. Accordingly, the company had informed the government about its decision to surrender stakes in the two […]
New Delhi: The Supreme Court on Friday restrained steel manufacturing giant ArcelorMittal from acquiring Essar Steel India and ordered status quo on the March 8 order of the National Company Law Tribunal (NCLT) approving Arcelor’s bid for Essar. The Arcelor’s acquisition of Essar would have allowed Arcelor owner Lakshmi Mittal to begin its operations in […]
Bhubaneswar: ArcelorMittal India Pvt Ltd has bagged the Thakurani iron ore block in Odisha, said an official on Monday. The company won the iron ore mines committing to pay 107.55 per cent of its sale value of ore to the state government when production starts, said the official. Besides, the company will pay taxes, district […]
Bhubaneswar: Global steel giant ArcelorMittal & Nippon Steel on Saturday expressed its willingness to invest around Rs 2000 crore in Odisha. The CEO of ArcelorMittal group Lakshmi Mittal informed about the investment proposal while holding discussions with Odisha Chief Minister Naveen Patnaik via video conferencing today. During the online discussion, Lakshmi Mittal informed that his […]
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