News

ArcelorMittal to buy Siemens Gamesas`s wind turbines for its Andhra project Global steel major ArcelorMittal's Indian subsidiary had inked an agreement with wind turbine major Siemens Gamesa to source wind turbines for its 166 MW project in Andhra Pradesh. The clean electricity produced will be used by one of ArcelorMittal's steel plants in India, providing a much-needed boost to the industry's decarbonisation efforts in the country. According to Siemens Gamesa, it has signed the deal to supply 46 SG 3.6-145 wind turbines to AM Green Energy Private ...
ArcelorMittal to buy Siemens Gamesas`s wind turbines for its Andhra project
ArcelorMittal to buy Siemens Gamesas`s wind turbines for its Andhra project
Source: IANS
13/04/2023 9:14:44 AM
AMNS Luxembourg inks $5 billion loan deal with Japanese banks to fund India JV ArcelorMittal SA on Friday said AMNS Luxembourg Holding S.A., the parent company of ArcelorMittal Nippon Steel India (AM/NS India), has entered into a $5 billion loan deal with a consortium of Japanese lenders. The proceeds would be used to fund the expansion of AM/NS India's annual capacity at its Hazira plant in India to 15 million tonnes from 9 million tonnes, the European steelmaker said in a statement. The expansion would include the development of downstream rolling and finish...
AMNS Luxembourg inks $5 billion loan deal with Japanese banks to fund India JV
AMNS Luxembourg inks $5 billion loan deal with Japanese banks to fund India JV
Source: Reuters
4/04/2023 3:10:35 PM
SREI Groups` Liquidation Value pegged at Rs 6K cr & Fair Value at Rs 9K cr The two independent valuers appointed by the lenders of the SREI group, Kakode & Associates and GAA, have submitted their valuation reports to the Committee of Creditors (COC). According to the sources, the average Liquidation Value of SREI Group by these two independent valuers has been pegged at Rs 6,000 crore, and the average Fair Value is Rs 9,000 crore. The sources revealed that in comparison, the bids submitted by the three bidders, i.e. NARCL, Varde-Arena consortium, and Auth...
SREI Groups` Liquidation Value pegged at Rs 6K cr & Fair Value at Rs 9K cr
SREI Groups` Liquidation Value pegged at Rs 6K cr & Fair Value at Rs 9K cr
Source: IANS
13/12/2022 9:22:14 AM
Larsen & Toubro rises as its arm secures order from ArcelorMittal Nippon Steel India Larsen & Toubro is currently trading at Rs. 2134.00, up by 40.15 points or 1.92% from its previous closing of Rs. 2093.85 on the BSE. The scrip opened at Rs. 2084.05 and has touched a high and low of Rs. 2139.70 and Rs. 2084.05 respectively. So far 71897 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2109.55 on 01-Dec-2022 and a 52 week low of Rs. 1456.80 on 20-Jun-2022. Last one week high and low of the sc...
Larsen & Toubro rises as its arm secures order from ArcelorMittal Nippon Steel India
Larsen & Toubro rises as its arm secures order from ArcelorMittal Nippon Steel India
Source: Accord Fintech
7/12/2022 11:46:26 AM
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India The Competition Commission of India on Thursday approved acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Ltd. The proposed combination involves the acquisition of power assets namely Essar Power Hazira Ltd and Gandhar Hazira Transmission Ltd, port assets like Hazira Cargo Terminals Ltd, Ibrox Aviation & Trading Private Ltd, Essar Bulk Terminal Ltd, Essar Bulk Terminal Paradip Ltd and Essar Vizag Terminals Ltd, as well as other assets. These other assets incl...
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India
Competition Commission clears acquisition of Essar Group assets by ArcelorMittal Nippon Steel India
Source: IANS
30/09/2022 10:27:19 AM
ArcelorMittal Nippon to buy some Essar Group assets for $2.4 billion ArcelorMittal Nippon Steel India Ltd will acquire certain infrastructure assets from Essar Group for $2.4 billion, the steel manufacturer said on Friday, a deal that will strengthen its steel making business in the country. The purchase of steel making business assets, including power, ports and other logistics and infrastructure operations, will be funded by the Indian unit of the joint venture between ArcelorMittal and Nippon Steel Corp, the company said. The deal will cash accretive ...
ArcelorMittal Nippon to buy some Essar Group assets for $2.4 billion
ArcelorMittal Nippon to buy some Essar Group assets for $2.4 billion
Source: Reuters
27/08/2022 9:08:00 AM
ArcelorMittal Nippon Steel expands presence to J&K, opens retail outlet Hypermart ArcelorMittal Nippon Steel India (AM/NS India) -- a joint venture between two of the world's leading steelmakers ArcelorMittal and Nippon Steel -- marks the expansion of its business to Jammu and Kashmir (J&K) with the opening of its first Hypermart outlet. Located at Purmandal Morh in Jammu, the outlet will provide direct and immediate access of quality steel products to businesses operating in various segments such as infrastructure, housing, and Micro Small and Medium Enterprise...
ArcelorMittal Nippon Steel expands presence to J&K, opens retail outlet Hypermart
ArcelorMittal Nippon Steel expands presence to J&K, opens retail outlet Hypermart
Source: IANS
11/02/2022 3:10:29 PM
ArcelorMittal reports best start to a year for a decade BRUSSELS  - ArcelorMittal, the world's largest steelmaker, reported higher than expected first-quarter earnings on Thursday after what it said was its strongest quarter in a decade. The company said it expects global steel demand to grow by between 4.5% and 5.5% this year, with inventories low after prolonged destocking, capacity utilisation rising and steel spreads healthy. Excluding China, that growth would be 8.5% to 9.5%, with a strong rebound expected in India. The Luxembo...
ArcelorMittal reports best start to a year for a decade
ArcelorMittal reports best start to a year for a decade
Source: Reuters
7/05/2021 10:08:09 AM
ArcelorMittal reports best start to a year for a decade BRUSSELS  - ArcelorMittal, the world's largest steelmaker, reported higher than expected first-quarter earnings on Thursday after what it said was its strongest quarter in a decade. The company said it expects global steel demand to grow by between 4.5% and 5.5% this year, with inventories low after prolonged destocking, capacity utilisation rising and steel spreads healthy. Excluding China, that growth would be 8.5% to 9.5%, with a strong rebound expected in India. The Luxembo...
ArcelorMittal reports best start to a year for a decade
ArcelorMittal reports best start to a year for a decade
Source: Reuters
6/05/2021 3:23:46 PM
ArcelorMittal reports `strongest quarter in a decade` Steel giant ArcelorMittal has reported a net income of $2.3 billion for the January-March quarter up from $1.2 billion in the previous quarter. In a statement, the company said that the first quarter of 2021 was its strongest quarter in a decade. The operating performance significantly improved in Q1 2021, reflecting the continued demand recovery which supported a 6.5 per cent sequential increase in steel shipments, it said. Operating income of the company during the period under rev...
ArcelorMittal reports `strongest quarter in a decade`
ArcelorMittal reports `strongest quarter in a decade`
Source: IANS
6/05/2021 1:44:54 PM
Infosys wins ArcelorMittal digital contract Global software major Infosys on Thursday said it won a contract for digital transformation of steel maker ArcelorMittal's IT operations. "As part of the deal, we will deliver next-generation application and business process management (BPM) services to ArcelorMittal," the city-based firm said in a statement. Infosys will work with the London-based steel and mining firm's European arm and share its best practice to optimise, stabilise and transform its IT landscape. ...
Infosys wins ArcelorMittal digital contract
Infosys wins ArcelorMittal digital contract
Source: IANS
8/04/2021 4:59:57 PM
ArcelorMittal commits Rs 50K cr investment in Odisha Fifteen years after expressing its intent to set up a steel plant in Odisha, worlds largest steel maker ArcelorMittal has decided to revisit the state with a mega investment plan. The company's Indian operations led by ArcelorMittal Nippon Steel India has signed a memorandum of understanding (MoU) with Odisha government for setting up a 12 million tonne (MT) steel plant in Kendrapada district with an investment of Rs 50,000 crore. ArcelorMittal had indicated its intent to set up gre...
ArcelorMittal commits Rs 50K cr investment in Odisha
ArcelorMittal commits Rs 50K cr investment in Odisha
Source: IANS
4/03/2021 5:36:53 PM
ArcelorMittal plans $1 billion cost cuts under new CEO BRUSSELS - ArcelorMittal, the world's largest steelmaker, unveiled a new $1 billion cost reduction plan and restarted dividend payments after higher than expected fourth-quarter earnings. ArcelorMittal said on Thursday steel demand should grow in 2021 by between 4.5% and 5.5%, with its own shipments expected to increase, and also announced that chief financial officer Aditya Mittal was taking over as chief executive from his father Lakshmi. The Luxembourg-based company said on Thurs...
ArcelorMittal plans $1 billion cost cuts under new CEO
ArcelorMittal plans $1 billion cost cuts under new CEO
Source: Reuters
11/02/2021 11:56:16 AM