Nippon Steel

ArcelorMittal SA on Friday said its Indian steelmaking joint venture with Asian peer Nippon Steel Corp has entered into a $5 billion loan deal

Joint venture firm says lower selling price and India's duty on steel exports last year impacted business

Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

ArcelorMittal and Nippon Steel, has embarked on an expansion that includes increasing capacity at its existing location, Hazira in Gujarat, and setting up new plants in Odisha

In order to complete its asset monetisation drive to effectively become debt free, Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) on Monday concluded the $2.05 billion (Rs 16,500 crore) sale of captive ports and power assets located in Hazira and Paradip to Arcelor Mittal Nippon Steel India Ltd (AM/NS).

The transaction, fully funded by AM/NS India, includes two port assets and a power plant which are now wholly-owned and operated by it

Ruia family-run Essar group on Monday said it has concluded the sale of captive ports and power assets located at Hazira in Gujarat and Paradip in Odisha to Arcelor Mittal Nippon Steel India Ltd (AM/NS) for USD 2.05 billion (about Rs 16,500 crore). With the sale, Essar has completed its asset monetisation programme to effectively become debt free. "Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) today concluded the USD 2.05 billion sale of captive ports and power assets located in Hazira and Paradip to AM/NS," it said in a statement. The sale consisted of infra assets including a 270 MW power plant and 25 million tonnes per annum port at Hazira, Gujarat, and a 12 million tonnes a year port at Paradip, Odisha. Prashant Ruia, Director, Essar Capital, said, "Essar has concluded its asset monetisation programme and completed the debt repayment of USD 25 billion (Rs 2 lakh crore) effectively making the group debt-free from Indian banks and financial institutions". Essar ..

ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 62.98 per cent year-on-year drop (YoY) in EBITDA

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

Aditya Mittal says will make products never made before in India

Prime Minister Narendra Modi will on Friday virtually attend the 'bhoomi pujan' of the expansion project of steel major ArcelorMittal Nippon Steel India's flagship plant at Hazira in Gujarat's Surat district, officials said. ArcelorMittal Nippon Steel India (AM/NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - will expand crude steel capacity at its Hazira plant from 9 million tonnes per annum (MTPA) to 15 MTPA, the company officials said. The company was early this month awarded an environmental clearance to expand the capacity at its plant in Hazira from the current crude steel capacity of 9 million tonnes per annum (MTPA) to 15 MTPA. Union Steel Minister Jyotiraditya Scindia will also virtually attend the ground breaking ceremony that will take place at 2 pm. Gujarat Chief Minister Bhupendra Patel will visit the plant for the event along with Member of Parliament from Navsari C R Paatil. "This increased steel manufactur

The port and power assets are primarily captive to AM/NS' Hazira steel plant in Gujarat, will expand firm's footprint and operating efficiencies

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

The Competition Commission of India on Thursday approved acquisition of assets of Essar Group by ArcelorMittal Nippon Steel India Ltd.

ArcelorMittal's arm AMNS India will invest USD 1 billion in the downstream sector, including in the expansion of its specialty steel portfolio, Aditya Mittal, Chairman of the Gujarat-based steel player, said on Tuesday. Mittal is also the CEO of parent company ArcelorMittal which holds 60 per cent equity in AMNS India. AMNS India in Hazira is well-positioned to capture the growth opportunities presented by the domestic steel market which has the potential to grow to 300 million tonnes per annum by 2030, the company official said addressing a group of investors and analysts of ArcelorMittal. According to a statement, this was the first such meeting since Luxembourg-based ArcelorMittal and Japan's Nippon Steel jointly acquired the asset in December 2019. In addition to volume growth, AMNS India is focussed on leading the decarbonisation of the Indian steel industry and will increase its production of high grade speciality steels in key growth sectors such as automotive and ...

The expansion plan comes despite a growing concerns about a slowdown in the global economy amid rising interest rates and weaker demand in top buyer China

The ownership of port assets had been in courts since 2020 after AM/NS India moved the Gujarat High Court

Reports steel shipments of 1.51 MT in quarter, compared with 1.72 MT a year ago and 1.73 MT in previous quarter

ArcelorMittal and Nippon Steel joint venture has announced that it was in the process of investing Rs 273 crore for zero liquid discharge, other environmental initiatives at its Hazira steel complex