ArcelorMittal keen to expand presence in India: Pradhan
Pradhan, who met ArcelorMittal Chairman and CEO Lakshmi Niwas Mittal here, assured him of full support to leverage the country's large market.
The meeting comes a day after ArcelorMittal initiated payment of Rs 42,000 crore for acquiring debt-laden Essar Steel, which it had won in an insolvency process."Had a fruitful meeting with Mr. Lakshmi Niwas Mittal, Chairman & CEO of ArcelorMittal @ArcelorMittal. We had wide ranging discussions on ways to boost domestic steel production through technology upgradation & attracting more investments in the steel sector, " Pradhan said in a tweet.
The decks for acquisition of Essar Steel by the L N Mittal-led company were cleared by the Supreme Court last month.Essar Steel was auctioned under the new Insolvency and Bankruptcy Code to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors. ABI ABM ABM
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- OYO's valuation climbs again — hits $9 billion after its latest fundraise of $7 million
- These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan
- ZEE5 denies recent data breach claims
- Nine out of top 10 Indian cities with most active COVID-19 cases are in Maharashtra and Kerala as on March 5
- A whole host of jobs, from government to private to foreign companies in India, are opening up — here’s a look at some of those