Following the Supreme Court verdict on Essar Steel resolution plan, global steel giant ArcelorMittal said it expects to complete the acquisition of the debt-ridden company by the end of this year.
India’s crude steel output remained almost flat at 8.662 million tonne (MT) during April 2019, according to official data. Continue Reading
According to reports, the new order suggests the tribunal may consider letting the Ruias, founders of the Essar Group and the erstwhile promoters of Essar Steel, enter the race for the latter if ESAH can come up with about Rs 1.4 lakh crore. Continue Reading
The seemingly unending auction race will now witness Anil Agarwal-led Vedanta make another attempt at buying Essar Steel and may potentially partner Sajjan Jindal’s JSW Steel, reports state. Continue Reading