Pramod Mittal’s firm won a settlement tied to a Soviet-era steel plant that has sucked up more than $7 billion in Nigerian public investment without producing any metal.
Billionaire Lakshmi Mittal’s younger brother is effectively getting a helping hand and a possible way out of financial distress from Nigerian taxpayers, after the country’s government agreed to pay his company almost $500 million to settle a contract dispute over a deal that a previous administration said was tarnished by fraud. Pramod Mittal,…
Pramod Mittal, lesser-known in the steel industry compared to his brother Lakshmi, is navigating financial turmoil. Nigeria agreed to pay nearly $500 million to settle his company s dispute, aiding his debt-laden venture. Despite Nigeria s payments to Mittal s company, creditors await settlements, highlighting the complex web of his financial troubles.
How billionaire Lakshmi Mittal s brother got a $500 mn bailout in Nigeria business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
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