ArcelorMittal SA said that it has formed a joint venture with Nippon Steel Corp to run Essar Steel, the bankrupt Indian steel company that ArcelorMittal has taken over. ArcelorMittal will have a 60% stake in the new venture – ArcelorMittal Nippon Steel India Ltd – the world’s biggest steelmaker said in a statement. The new company aims to export up to 15 million tonnes of finished steel.
ArcelorMittal forms JV with Nippon Steel to run India’s Essar Steel
Date posted: Friday 20 December 2019