ArcelorMittal to rebid for Essar Steel after failing legal eligibility test

The rebid date is likely to be set for the first week of April, which will give both ArcelorMittal and Numetal to rework on their technical glitches

A day after its bid failed the legal eligibility test, ArcelorMittal, confirmed that it would participate in the rebid for Essar Steel.

“We have not yet received any formal notification from resolution professional. But we can confirm it is our intention to participate in a rebid," read a statement from ArcelorMittal. Sources close to Numetal said it had not heard officially from the resolution professional.

On Wednesday, the committee of creditors rejected the two bids that it had received for Essar Steel from ArcelorMittal and Numetal on the grounds of eligibility.

Sources close to ArcelorMittal