Essar inks $2.4 bn deal to sell ports business to ArcelorMittal Nippon Steel

The pact will boost the steelmaker’s India business and free up the Ruias to settle debts.

26 August, 20222 min
0
Essar inks $2.4 bn deal to sell ports business to ArcelorMittal Nippon Steel

You may also like

Business
Story image

In thyssenkrupp deal, Naveen Jindal saddles up for a high-stakes ride

Acquisition of the German steelmaker would give the Indian steel entrepreneur substantial global heft. But it might also end up extracting a heavy price on his already-stretched group and its investors.

Internet
Story image

JSW, Tata, Birla’s entry into B2B e-commerce augurs poorly for Infra.Market, OfBusiness

The two IPO-bound startups are showing signs of a slowdown and will be looking over their shoulders as online B2B marketplaces launched by the conglomerates grow fast.

Business
Story image

The hunt for greener steel stutters

ArcelorMittal's scrapping of green steel plans in Germany signals an uncertain future for decarbonizing the heavily polluting sector. It also casts a cloud on mega investments by Indian steelmakers.