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ArcelorMittal's focus on other assets may hit $1-bn JV with SAIL

ArcelorMittal's stance has undergone significant change during July-August 2017: Report

Reuters  |  New Delhi 

ArcelorMittal's interest in buying debt-ridden Indian steel companies could derail its planned $1 billion joint venture with Steel Authority of India Ltd (SAIL), a steel ministry report showed. State-owned SAIL said any such buyout by the world's top steelmaker, controlled by billionaire Lakshmi Mittal, could violate its exclusive partnership arrangement for manufacturing steel for cars, the document seen by Reuters showed. ArcelorMittal and SAIL signed their preliminary agreement in 2015 but there has been little progress due to disputes over terms. Earlier this month, ...

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First Published: Tue, September 26 2017. 17:41 IST