ArcelorMittal Nippon Steel India has acquired Essar Power Orissa, another captive power plant of Essar Steel through the Securitisation and Reconstruction of Financial Assets and Enforcement of Securi
ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, has signed a memorandum of understanding (MoU) with Posco Maharashtra to supply hot rolled coils (HRC) in 2021. The MoU is valued at about Rs 5,000 crore. The agreement is the sixth such between two companies since 2015. As part of the agreement signed on January 27, AM/NS India and POSCO Maharashtra Steel will also jointly work to enhance the quality of current grades and develop new value-added grades to provide state-of-the-art steel products and solutions to consumers. With its manufacturing facility at Hazira, Gujarat, AM/NS India is strategically placed to support Posco Maharashtra facility with HRC for manufacturing cold rolled and coated steel.
ArcelorMittal Nippon Steel India inks Rs 5,000 crore pact with POSCO Maharashtra Steel to supply hot rolled coils
While AM/NS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Japan s Nippon Steel, POSCO Maharashtra Steel is the Indian subsidiary of South Korean steel major POSCO. PTI January 29, 2021 / 01:59 PM IST
Essar Steel case: The Supreme Court cleared ArcelorMittal s takeover of Essar Steel. The judgement is key because it is likely to help facilitate the biggest takeover of bad debts in Indian corporate history. It also ruled that the Committee of Creditors will have the final say in the resolution plans under the Insolvency and Bankruptcy Code (IBC) and that the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) cannot interfere with CoC’s commercial decisions.
Leading steel-producing companies in the country are drawing up plans to vaccinate their employees across offices and plant sites with the start of the nationwide COVID-19 vaccination drive. Domestic steel makers like Tata Steel, ArcelorMittal Nippon Steel India (AMNS India) and Rashtriya Ispat Nigam Ltd (RINL) said they will continue to support the government in the nationwide drive and will wait till vaccines are available for corporates. Meanwhile, players like JSW Steel and Jindal Steel and Power Limited (JSPL) are already in talks with Indian vaccine makers to place orders according to their requirements. JSPL Chief Human Resource Officer said we are reaching out to vaccine manufacturers for bulk supply of doses and will try to get these doses after completion of all frontline COVID warriors vaccination.
Steel companies engage with vaccine makers for bulk supply of doses for staff
Tata Steel, ArcelorMittal Nippon Steel India and Rashtriya Ispat Nigam Ltd said they will continue to support the government in the nationwide drive and will wait till vaccines are available for corporates
PTI | January 18, 2021 | Updated 16:12 IST
JSW Steel and Jindal Steel and Power Limited (JSPL) are already in talks with Indian vaccine makers to place orders
Leading steel-producing companies in the country are drawing up plans to vaccinate their employees across offices and plant sites with the start of the nationwide COVID-19 vaccination drive.
Domestic steelmakers like Tata Steel, ArcelorMittal Nippon Steel India (AMNS India) and Rashtriya Ispat Nigam Ltd (RINL) said they will continue to support the government in the nationwide drive and will wait till vaccines are available for corporates.