Arcelormittal
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32 workers killed after fire erupts at coal mine in Kazakhstan, several missing
World | October 28, 2023 20:27 ISTThis 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.
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ArcelorMittal to set up integrated steel plant with Rs 50,000cr investment in Kendrapada
Business | March 04, 2021 16:05 ISTSteelmaker 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.
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ArcelorMittal chairman LN Mittal calls on Steek Minister Dharmendra Pradhan
Business | February 25, 2020 19:25 ISTArcelorMittal 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.
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ArcelorMittal reports USD 1.9 billion net loss in October-December
Business | February 06, 2020 15:34 ISTGlobal 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.
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SAIL awaits ArcelorMittal response to take JV plans forward
Business | November 24, 2019 13:17 ISTIn 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.
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ArcelorMittal aims to complete Essar Steel acquisition by 2019-end
Business | November 19, 2019 11:51 ISTFollowing 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.
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SC paves way for ArcelorMittal to take over Essar Steel for Rs 42,000 crore
India | November 15, 2019 13:54 ISTA 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.
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ArcelorMittal to shut Saldanha steel plant in South Africa
Business | November 11, 2019 18:55 ISTThe 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"
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Decks cleared for Essar Steel's takeover by ArcelorMittal
Business | July 04, 2019 15:44 ISTThe 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.
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ArcelorMittal to pay Rs 42,000 crore for Essar Steel takeover: Co tells NCLAT
World | May 20, 2019 17:42 ISTGlobal 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.
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World’s largest steel maker ArcelorMittal wins bid to take over debt-laden Essar Steel
Business | October 27, 2018 7:57 ISTThe development assumes significance as it will help fulfil the world’s largest steel maker’s long-time ambition of having an India mill.
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NCLAT amends order on Essar Steel, adds Darius Khambata as senior counsel
Business | September 17, 2018 15:57 ISTWorld's largest steel manufacturer ArcelorMittal and Russia's VTB Capital-backed Numetal are in a race to acquire debt-ridden Essar Steel.
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Lakshmi Mittal-led ArcelorMittal revises bid for Essar Steel to Rs 42,000 crore
Business | September 11, 2018 14:42 ISTDays 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.
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ArcelorMittal signs joint venture pact with Nippon Steel to acquire Essar Steel
Business | March 02, 2018 17:02 ISTArcelorMittal 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.
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Bhushan Steel shares rally 20 per cent on buzz over acquisition by ArcelorMittal
Business | October 23, 2017 13:18 ISTWith loan defaults totalling over Rs 44,000 crore, Bhushan Steel was admitted under NCLT for insolvency proceedings in July this year.
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ArcelorMittal, SAIL to set up steel plant in India
May 22, 2015 22:06 ISTLondon/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
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Central panel seeks report on ArcelorMittal mine leases from Jharkhand
May 18, 2014 17:51 ISTNew 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
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IMG for de-allocation of 3 more coal blocks
September 19, 2012 23:13 ISTNew 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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