AM/NS bulks up for the future, focuses on acquisitions to secure infra

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

The entry of ArcelorMittal Nippon Steel India (AM/NS India) into India’s league table for steel was noisy, with the world’s largest steelmaker locked in an intense legal battle with the Ruias, promoters of Essar Steel, for more than two years to gain control of the company under India’s nascent insolvency law.

Three years on, the 60:40 joint venture of the world’s leading steelmakers is bulking up by acquiring a string of assets connected to its operations and ring-fencing future expansion.

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with