+
ArcelorMittal Nippon Steel likely to bid for RINL acquisition
Steel

ArcelorMittal Nippon Steel likely to bid for RINL acquisition

ArcelorMittal Nippon Steel (AM/NS) is planning to bid for acquisition of steelmaker Rashtriya Ispat Nigam Limited (RINL), in which domestic giant Tata Steel has already expressed its interest.

Rashtriya Ispat Nigam Limited (RINL) is a special steel-making company in Visakhapatnam, Andhra Pradesh. The company operates a 7.3 million tonne (MT) steel plant in the state under the administrative control of the Ministry of Steel.

A source told the media that AM/NS India is exploring that option when asked if the company would be interested in disinvestment-bound RINL.

TV Narendran, Tata Steel CEO and MD, told the media that his company is interested in obtaining RINL because the plant is situated strategically on the eastern coast, and acquiring it would give them more access to the Southeast Asian markets, where the company already has a presence.

The Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for 100% disinvestment of government stake in RINL and the company's stake in joint ventures/subsidiaries through strategic disinvestment by way of privatisation on January 27.

AM/NS India informed in a tweet on Thursday that industrialist Lakshmi N Mittal is meeting Nirmala Sitharaman, the Finance Minister, in New Delhi.

Mittal is the Executive Chairman of the parent company of ArcelorMittal Nippon Steel India (ANMS), Luxembourg-headquartered ArcelorMittal, which is planning to expand its operations in India through greenfield and brownfield routes.

The 60:40 joint venture company between ArcelorMittal and Nippon Steel of Japan is AM/NS India.

Image Source


Also read: Tata Steel shows inclination towards RINL acquisition

ArcelorMittal Nippon Steel (AM/NS) is planning to bid for acquisition of steelmaker Rashtriya Ispat Nigam Limited (RINL), in which domestic giant Tata Steel has already expressed its interest. Rashtriya Ispat Nigam Limited (RINL) is a special steel-making company in Visakhapatnam, Andhra Pradesh. The company operates a 7.3 million tonne (MT) steel plant in the state under the administrative control of the Ministry of Steel. A source told the media that AM/NS India is exploring that option when asked if the company would be interested in disinvestment-bound RINL. TV Narendran, Tata Steel CEO and MD, told the media that his company is interested in obtaining RINL because the plant is situated strategically on the eastern coast, and acquiring it would give them more access to the Southeast Asian markets, where the company already has a presence. The Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for 100% disinvestment of government stake in RINL and the company's stake in joint ventures/subsidiaries through strategic disinvestment by way of privatisation on January 27. AM/NS India informed in a tweet on Thursday that industrialist Lakshmi N Mittal is meeting Nirmala Sitharaman, the Finance Minister, in New Delhi. Mittal is the Executive Chairman of the parent company of ArcelorMittal Nippon Steel India (ANMS), Luxembourg-headquartered ArcelorMittal, which is planning to expand its operations in India through greenfield and brownfield routes. The 60:40 joint venture company between ArcelorMittal and Nippon Steel of Japan is AM/NS India. Image Source Also read: Tata Steel shows inclination towards RINL acquisition

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?