Essar Steel
Will dump Ruia if it interferes with Essar Steel bid: Numetal
05 Mar 2018
The consortium led by VTB Capital said it is prepared to drop Rewant Ruia as a minority shareholder if the government decides it is against the rules to allow promoters a backdoor entry into sick units. Senior VTB official Makram Addoud also said ArcelorMittal’s bid is illegal and it is acting as a ‘spoiler’
ArcelorMittal forms JV with Nippon Steel to acquire Essar Steel
03 Mar 2018
ArcelorMittal has signed a joint venture agreement with Nippon Steel and Sumitomo Metal Corporation (NSSMC) to bid for Essar Steel India Limited, which is being auctioned by its creditors
ArcelorMittal keen to bag Essar Steel, says it will be perfect fit
28 Feb 2018
"The growth in the Indian market in the next 10 years would probably not be seen in any other market," ArcelorMittal executive vice president Brian Aranha said while explaining the importance of Essar Steel to his firm
ArcelorMittal, Ruias and Tatas to vie for debt-laden Essar Steel
12 Feb 2018
The liquidation value of Essar Steel, which operates a 10 million tonne capacity steel plant in Hazira, Gujarat, has been fixed at Rs20,000 crore, according to sources
NCLT admits insolvency petition against Essar Steel
03 Aug 2017
The Ahmedabad bench of the NCLT rejected Essar Steel’s plea to dismiss the insolvency proceedings and ordered the appointment of the SBI-nominated Satish Kumar Gupta as the Interim Resolution Professional
Essar Steel develops eco-friendly sand from slag
08 May 2017
Liberty House to bid for bankrupt Essar project in the US
26 Apr 2017
Essar had invested around $1.8 billion into the Nashwauk project over several years but walked away from it in late 2015 due to shortage of cash even after having taken over $1 billion in debt from a consortium of Indian banks to fund the project
Essar Steel to raise $2 billion to cut rupee debt
28 Apr 2014
Essar Steel hopes to complete the $2 billion overseas borrowing by the end of the current quarter
Essar Steel raises $1 bn through ECBs, to help retire rupee debt
20 Jun 2013
The move will help Essar Steel to de-risk its balance sheet from fluctuating currency rates and save about Rs450 crore per annum in interest payments.
Posco seeks Essar aid to build stalled Orissa steel plant: report
30 Apr 2012
South Korean steel major Posco has sounded out Essar Steel for an alliance to build the planned the 12-million tonnes steel plant in Orissa
Essar Steel fails to get stay on RIL gas allocation
10 May 2011
Essar Steel had moved the Delhi high court against an order from the oil ministry to RIL to prioritise the ‘core’ sector in supplying gas from its block off the Andhra Pradesh coast.
Essar Steel acquires Servosteel in UK
28 Jun 2010
Essar Steel today announced its acquisition of the 500,000 tpa Servosteel, the largest independent steel processor in the UK.
Essar Steel eyeing Egypt's Kandil: report
28 Jun 2010
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
