ArcelorMittal and Nippon Steel India records 50% jump in EBITDA

31 Jul 2021 CW Team

ArcelorMittal and Nippon Steel India (AM/NS India) recorded 50% higher earnings before interest, taxes, depreciation, and amortisation (EBITDA) quarter-on-quarter (QoQ) and 450% year-on-year (YoY) to $607 million in the quarter ended June 30, 2021, on the back of strong global demand and the recent resurgence in the domestic market.

The EBITDA in Q1 2021 was $403 million.

While announcing earnings for the quarter the company said that Q2 2021 crude steel production of the company remained stable at 1.8 million tonnes (mt) despite the Covid-19 pandemic.

AM/NS India said that the business noticed encouraging signs of domestic demand revival, particularly from the automotive, white goods, and infrastructure sectors, towards the end of the quarter.

The annualised production of AM/NS India remained unchanged from Q1 2021, at 7.3 mt.

As part of ArcelorMittal’s earnings in the quarter, AM/NS India numbers were released. The global steel major reported $5.1 billion EBITDA in Q2 2021, its strongest quarter since 2008, as steel costs surged to a record high; it was 55.8% costlier than in Q1 2021. It was at $707 million in the prior-year period.

Aditya Mittal, CEO, ArcelorMittal, said that a continued strong recovery has been witnessed, in the second quarter alongside a sustained lean inventory environment.

Mittal further expects the demand outlook to increase further in the second half.

The company said that in Q2 2021, the share of the joint venture (JV) and associates net income increased to $0.6 billion, indicating maintained strong performance at AMNS India and AMNS Calvert.

Image Source

Also read: ArcelorMittal signs €1 bn MoU with Spain for decarbonisation tech

Infrastructure Energy

23 Oct 2025

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..