This incident marks the latest in a series of workplace mishaps at sites operated by ArcelorMittal. Kazakhstan's Prosecutor General has announced an investigation into potential safety violations in the coal mine.
Steelmaker ArcelorMittal Nippon Steel India (AM/NS India) on Thursday inked an agreement with the Odisha government for setting up a 12 mtpa integrated steel plant in Kendrapada district with an investment of Rs 50,000 crore, officials said.
ArcelorMittal chief L N Mittal on Tuesday called on Union Steel Minister Dharmendra Pradhan and discussed ways to boost domestic steel consumption and make the sector more competitive. Pradhan in a tweet said that they had discussion on driving domestic steel demand and making the Indian industry more vibrant among other issues.
Global steel giant ArcelorMittal on Thursday reported a net loss of USD 1.9 billion for the quarter ended December. The world's largest steelmaker had posted a net income of USD 1.2 billion in the year-ago quarter, the company said in a statement. The company reported a "net loss attributable to equity holders of the parent" of USD 1.9 billion in the fourth quarter. ArcelorMittal follows January to December fiscal year.
In December 2017, Steel Authority of India Ltd (SAIL) board had approved a proposal to enter into a JV with global steel giant ArcelorMittal for manufacturing high-end automotive steel. The definitive agreement in this regard, the company had said, will be finalised in due course subject to financial viability.
Following the Supreme Court verdict on Essar Steel resolution plan, global steel giant ArcelorMittal said expects to complete the acquisition of the debt-ridden company by the end of this year.
A bench headed by Justice R F Nariman clarified that financial creditors enjoy primacy over operational creditors and the adjudicating authority cannot interfere with the decision approved by the committee of creditors.
The company, majority-owned by ArcelorMittal, announced on its website that "568 people work at the plant which has produced steel products for more than two decades." As part of a strategic review of its operations, the steel manufacturer found that its Saldanha operations had lost their competitive cost advantage to compete in the export market, "mainly due to raw material and regulated prices"
The NCLAT Thursday cleared the takeover of Essar Steel by ArcelorMittal after it rejected all objections raised by the shareholders of the debt-ridden company. The National Company Law Appellate Tribunal (NCLAT), however, gave operational creditors equal footing into the proceeds of insolvency auction.
Global steel major ArcelorMittal Monday told the National Company Law Appellate Tribunal (NCLAT) that it would pay Rs 42,000 crore, including a minimum of guarantee of Rs 2,500 crore as working capital, for acquiring debt-laden Essar Steel under the insolvency process.
The development assumes significance as it will help fulfil the world’s largest steel maker’s long-time ambition of having an India mill.
World's largest steel manufacturer ArcelorMittal and Russia's VTB Capital-backed Numetal are in a race to acquire debt-ridden Essar Steel.
Days after the National Company Law Appellate Tribunal (NCLAT) held the second round of bids for debt-laden Essar Steel valid, ArcelorMittal India put in a revised offer to the lenders of the company.
ArcelorMittal today said it has entered into a joint venture pact with Nippon Steel & Sumitomo Metal Corporation (NSSMC) to jointly acquire the assets of Essar Steel.
With loan defaults totalling over Rs 44,000 crore, Bhushan Steel was admitted under NCLT for insolvency proceedings in July this year.
London/New Delhi: NRI billionaire Lakshmi Mittal-led ArcelorMittal today partnered PSU giant SAIL to set up an automotive steel plant with an estimated Rs 5,000 crore investment, taking a fresh shot at entering India after nearly
New Delhi: A central panel has asked Jharkhand to clarify soon whether the existing and proposed mining leases of ArcelorMittal for its planned Rs.50,000-crore plant in the state fell under a conservation reserve or not.The
New Delhi, Sep 19: De-allocation of three more coal blocks was on Wednesday recommended by the Inter-Ministerial Group (IMG), which concluded scrutiny of 29 mines and will meet on Thursday to review further cases. The
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