Three people familiar with the matter said that ArcelorMittal is in talks to buy Karnataka based Bellary Steels & Alloys Ltd, which has been taken over by its lenders after failing to convince them to waive a part of its INR 2,600 crore debt and restructure the rest. Bellary Steels has a total debt of about INR 2,600 crore and accumulated losses of about INR 300 crore. Mr A Mallikarjunappa GM (finance) also…

The world's steel giant ArcelorMittal said that it may restart the expansion plan in its Brazilian steel long plant. The expansion plan is worth of USD 1.5 billion and the annual production is expected to reach 5 million tonnes. The steel giant will decide within the following three months whether to raise the annual production capacity at Joao Monlevade plant and Juiz de Fora plant to 2.4 million tonnes…

ET reported that ArcelorMittal has proposed a joint venture company with Steel Authority of India to set up an integrated steel plant near the latter’s existing steel making facility at Bokaro in Jharkhand. The report cited a government official in the know of the development as saying that “ArcelorMittal has proposed a 50:50 joint venture to set up a 3 million tonne to 4 million tonne steel plant with SAIL…

Luxembourg-based steelmaker ArcelorMittal has been laying the groundwork for two major steelmaking complexes, one in India and the other in Egypt. According to Industrial Info Resources of Sugar Land, Texas, ArcelorMitall has been allotted 7,750 acres of land by the government of the Indian state of Orissa to construct a planned 12 million tons-per-year steel mill in the town of Keonjhargarh. About 7,000…

Polishmarket reported that a letter of intent to establish a Special Activity Zone in Nowa Huta the industrial district of the city of Kraków, southern Poland has been signed by the Governor of Malopolska Province, the Malopolska Regional Development Agency and ArcelorMittal Poland metallurgical company, the owner of land where the zone is to be established. According to the organizers, special incentives…

DNA reported that ArcelorMittal may finally get to start construction of its first steel plant in the country early next fiscal as it hopes to complete land acquisition for the plant in Jharkhand by the end of this fiscal. A company spokesperson said that “We are hoping that by December end we will have up to 1,000 acres and by the end of the first quarter of the next calendar year, the entire 2,500 acres…

ArcelorMittal, the world’s largest steel and mining company, will present its wind turbine expertise at the industry’s biggest event, Husum WindEnergy 2012. Taking place every two years in Husum, Germany, the fair has been gathering the industry’s movers and shakers for 25 years and is a key showcasing event for research and products. ArcelorMittal will host a joint conference with industry expert and…

ArcelorMittal has unveiled a unique new ultra low carbon production technology at its Dofasco plant in Hamilton in Canada, which will give the world's largest steelmaker greater capability to produce more advanced grades of automotive steel, enabling closer tolerances, lowering weight and improving functional performance of finished car parts. This new production technology, which has been recognized for…

BRUSSELS (EU) - ArcelorMittal, the world's largest steelmaker, said on Tuesday it would increase flat carbon steel prices in Europe by 12-15 percent as of April. "With this move ArcelorMittal realigns the price level of its European flat products to recent global price developments," it said in statement. The steel group also said that it may hike prices further in the second quarter, which would be…

Earlier this month, ArcelorMittal announced that it has entered into an agreement to acquire a 40% stake in the Thai steel producer G Steel. The deal which is subject to G Steel reducing its outstanding liability level will cost ArcelorMittal about USD 246 million. The company competes with other international steel giants like BaoSteel, POSCO, Nippon Steel and ThyssenKrupp. Since the announcement of the…