ArcelorMittal Nippon Steel India Pursues $1 Billion Loan

25 Apr 2024 CW Team

ArcelorMittal Nippon Steel India (AM/NS India) is reportedly in discussions with banks to secure a $1 billion loan to support its operations and expansion plans. The loan, if finalised, will provide financial backing to AM/NS India as it seeks to bolster its presence in the Indian steel market.

The discussions come amidst AM/NS India's efforts to ramp up production and enhance its capacity to meet the growing demand for steel in India. The loan proceeds are expected to be utilised for various purposes, including funding capital expenditure projects, debt refinancing, and working capital requirements.

AM/NS India, a joint venture between global steel giants ArcelorMittal and Nippon Steel Corporation, has been actively investing in its Indian operations to strengthen its position in the domestic steel industry. The company operates multiple steel plants across India and has been expanding its product portfolio to cater to diverse customer needs.

The proposed $1 billion loan reflects AM/NS India's confidence in the long-term prospects of the Indian steel market and its commitment to furthering its growth trajectory in the country. The loan facility, if secured, will provide the company with additional financial flexibility to execute its strategic initiatives and capitalise on emerging opportunities in the sector.

The discussions with banks underscore the robust financing environment for steel companies in India, driven by strong demand fundamentals and favourable market conditions. AM/NS India's pursuit of a $1 billion loan reaffirms its commitment to driving innovation, efficiency, and sustainability in the Indian steel industry while delivering value to its stakeholders.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..