ArcelorMittal Submits Offer In Re-bidding Process For Essar Steel India

(RTTNews) - ArcelorMittal (MT) and Nippon Steel & Sumitomo Metal Corp. or 'NSSMC' said that ArcelorMittal's subsidiary ArcelorMittal India Private Limited or 'AMIPL' has submitted an offer in the re-bidding process for Essar Steel India Limited in connection with the joint venture between ArcelorMittal and NSSMC to jointly acquire and manage Essar Steel.

ArcelorMittal India Private Limited first submitted a bid for Essar Steel on 12th February. On 2nd March, ArcelorMittal announced it had signed a joint venture agreement with NSSMC which will see the two companies co-own and co-manage Essar Steel in the event AMIPL's bid is successful.