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Essar

Essar Steel is a global steel producer with a footprint in India, Canada, USA, the Middle East and Asia. It has an annual capacity of 14 million tonnes, and aims to achieve a global capacity of 20-25 million tonnes. It has a significant presence in the key markets of Asia, Europe, Africa and North America. The company has specialized plants for value-added steel products such as pipes and plates and has a leadership position in the cold rolling, galvanizing and pre-coated segments.

Latest News

Essar Steel Creditors Give Nod to ArcelorMittal Offer

30 Oct 2018 - Essar Steel India Ltd.’s creditors have named ArcelorMittal as the successful bidder for the debt-laden business, accepting its US$6.8 billion offer. 

In Surprise Move, Essar Steel Promoters Offer to Repay Lenders and Halt Bankruptcy Sale

25 Oct 2018 - India’s Ruia family, which promotes Essar Steel India Ltd., have made a last-ditch effort to reclaim the bankrupt business, offering to pay off the equivalent of US$7.4 billion, just as creditors were to vote on a bid from ArcelorMittal. 

To Allow for Essar Steel Acquisition, ArcelorMittal Agrees to Pay Off US$1B in Debt

17 Oct 2018 - ArcelorMittal said it is prepared to pay off the equivalent of about US$1 billion in debt on two businesses in which it had held ownership stakes in order to win approval to buy another.

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