ArcelorMittal signs strategic pact with Algeria's Sider

Last Updated: Sunday, September 29, 2013, 19:14

World's largest steel producer ArcelorMittal and Algeria's state-owned company Sider have finalised a strategic agreement for an investment plan of USD 763 million for a steel complex at Annaba, among other things.

ArcelorMittal says loses arbitration case against Senegal

Last Updated: Wednesday, September 11, 2013, 19:29

The world's top steel company said it concluded an agreement with Senegal in 2007 to develop the Faleme project in the Tambacounda region to mine iron ore, a key component of steel.

Issue notices to coal mines allocatees under CBI scanner: IMG

Last Updated: Thursday, August 29, 2013, 17:24

The inter-ministerial group on coal blocks has recommended issuing show cause notices to allocatee of mines including the one jointly given to ArcelorMittal, Sterlite Energy, Lanco and Reliance Energy, which are named in FIR registered by CBI.

ArcelorMittal defaulted on land payment: Odisha govt

Last Updated: Friday, August 23, 2013, 21:52

Countering ArcelorMittal's claim that land acquisition delays led to the scrapping of a Rs 50,000 crore steel project in Odisha, the state government Friday said the company had defaulted on land cost payments.

Employee exodus will not impact India projects: ArcelorMittal

Last Updated: Monday, August 12, 2013, 19:22

ArcelorMittal Monday said exodus of its employees, including CEO for Greenfield Projects Sanak Mishra, will not impact projects in Jharkhand and Karnataka.

Exodus from ArcelorMittal India; CEO Sanak Mishra leaves

Last Updated: Sunday, August 11, 2013, 14:44

ArcelorMittal is facing an exodus of senior management at its India office, with about 20 top executives, including its CEO for Greenfield Projects Sanak Mishra, quitting in frustrations of having little or no work as company's projects here have failed to take off so far.

Recession, business concerns behind Arcelor, Posco exit: Beni

Last Updated: Sunday, August 4, 2013, 16:27

Recession in the global steel market coupled with "business concerns" may have driven steel giants ArcelorMittal and Posco to resort to scrapping their Indian projects worth USD 18 billion, Steel Minister Beni Prasad Verma said Sunday, breaking silence on their pullout.

Progress in K'taka, J'khand not very satisfactory: L N Mittal

Last Updated: Thursday, August 1, 2013, 20:24

After scrapping its USD 12 billion venture in Odisha, world's largest steel maker ArcelorMittal on Thursday said progress in two other projects in Karnataka and Jharkhand involving investment of USD 18 billion is "not very satisfactory".

ArcelorMittal reports $780 mn loss for Apr-Jun qtr

Last Updated: Thursday, August 1, 2013, 12:30

ArcelorMittal, world's largest steelmaker, Thursday reported net loss of USD 780 million for the April-June quarter on lower sales and margins, but said outlook might be better in the second half of the year.

ArcelorMittal says its $18-bn Jharkhand, Karnataka plans on

Last Updated: Sunday, July 28, 2013, 14:25

Amid speculation about fate of its existing USD 18 billion India projects, global steel giant ArcelorMittal has said it continues to pursue Jharkhand and Karnataka projects with progress on land acquisition and raw material security front.

Resistance, violence led to aborting $12 bn Odisha proj: ArcelorMittal

Last Updated: Tuesday, July 23, 2013, 17:22

ArcelorMittal, under attack from authorities for scrapping USD 12 billion Odisha steel project, Tuesday contested charges of being "non-starter" and lacking greenfield experience, saying it had made good progress until faced with "physical resistance and violence on the ground".