© hindustantimes.comArcelorMittal, Nippon Steel complete acquisition of Essar Steel
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New Delhi: Global steel giant ArcelorMittal on Monday said it has completed the acquisition of Essar Steel, marking its entry into the Indian steel sector.
The Luxembourg-headquartered company has been eying to enter into Indian steel sector for long and had to give up its plans of two plants - 12 million tonnes each in Jharkhand and Odisha - over a decade back on account of various hurdles.
The deck for the acquisition of Essar Steel by L N Mittal-led company for Rs 42,000 crore was finally cleared by the Supreme Court last month.