ArcelorMittal wants tie-up with SAIL

World’s number one steel maker ArcelorMittalon Sunday said it was in talks with SAIL.

“We will continue to look at various opportunities in India or anywhere. We are also in dialogue with SAIL ,” ArcelorMittal chairman and CEO L N Mittal told PTI.

Faced with inordinate delays in launching its ambitious Rs one lakh crore steel projects in Jharkhand and Orissa, ArcelorMittal had started looking at new opportunities in states like Maharashtra, besides tying up with domestic firm Uttam Galva.

The company is also reportedly in talks with Bhushan Power and Steel among other local steel makers.

Japan’s Kobe steel was also keen to join hands with Sail. A JV with Sail may give the firms easy access to vast tracts of land available with the Indian firm especially in Jharkhand.

Problems in land acquisition and associated tribal protests have been holding back the big ticket investments in India--like that of Posco and ArcelorMittal.

India’s per capita steel consumption hovers at around Rs46 kg as against the global average of 198 kg. Sail with an annual production capacity of 14 million tonnes at present is in process of enhancing its capabilities to produce 60 million tonnes by 2020.

As multinational steel majors in race to join hands with SAIL, the shareholders of SAIL expected to gain in long run.

0 comments:

Disclaimer & Privacy Policies

(c) Mrs. Ruby Christy. This site and contents are owned by Mrs. Ruby Christy;
Use of this website and/or services offered by us indicates your acceptance of our Disclaimer& Privacy Policies.
Information and opinions provided on this website (www.investchips.com) has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. Investchips.com and its affiliates, information providers or content providers and R.John Christy and his Family shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this website or feeds, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. Investchips.com,its affiliates, information providers ,content providers and R. John Christy and his Family shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this website. Any action you choose to take in the markets is totally your own responsibility. Investchips.com and R. John Christy and his Family will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. Opinions expressed by R. John Christy are his own and not of his past, present and future employers.
The DoubleClick DART cookie is used by Google in the ads served on this websites displaying AdSense for content ads. When users visit this website and either view or click on an ad, a cookie may be dropped on that end user's browser.

Google, as a third party vendor, uses cookies to serve ads on this site.
Google's use of the DART cookie enables it to serve ads to your users based on their visit to this site and other sites on the Internet.
Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy.
www.investchips.com never collects any personal information of visitors.

WWW.INVESTCHIPS.COM