ArcelorMittal to acquire Indian Essar Steel
ArcelorMittal, the world's leading integrated steel and mining company, recently announced that its subsidiary has submitted the acquisition clauses to Indian Essar Steel, which was a development plan for Essar Steel with an aim of improving profitability in a short time.
ArcelorMittal had planned to build a new steel plant in India but the plan was forced to suspend due to the market factors. Therefore, ArcelorMittal was expected to be influenced in the Indian market through this acquisition project.
Essar Steel was an integrated steel company in India, with the main production base in Gujarat with an annual production of 9.6 million tons.
