Essar agrees to pay ArcelorMittal Nippon Steel USD 2.4 billion to sell its port operations
Essar Group on Friday announced a USD 2.4 billion (₹19,000 crore) deal to sell its ports business to Arcelor Mittal Nippon Steel Ltd.
Essar said in a statement that it has signed final contracts with ArcelorMittal Nippon Steel for a number of ports and electricity infrastructure assets that are principally linked to the operations of the Hazira steel plant.
"The agreement also contemplates a 50-50 Joint Venture collaboration between Essar and ArcelorMittal for the construction of a 4 MTPA LNG terminal at Hazira, Gujarat," it continued.
"The agreement also contemplates a 50-50 Joint Venture collaboration between Essar and ArcelorMittal for the construction of a 4 MTPA LNG terminal at Hazira, Gujarat," it continued.
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- Last Updated
- November 21, 2022