# Essar and ArcelorMittal Nippon Steel sign $2.4 billion pact for infrastructure assets

Essar group signed a $2.4 billion pact to sell port and power infrastructure assets to ArcelorMittal Nippon Steel (AM/NS), including port assets in Gujarat, Andhra Pradesh and Odisha, and two power plants at Hazira. The deal also includes a 50:50 joint venture for a 4 million tonne per year LNG import terminal at Hazira.

- Type: Acquisition
- Announced: 2022-08-26
- Where: Hazira, Gujarat, India
- Value: $2.40B
- Status: announced
- Products: port infrastructure, power plants, LNG import terminal
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Essar Group](https://endata.com/companies/64954.md) (partner)
- [ArcelorMittal Nippon Steel](https://endata.com/companies/64961.md) (acquirer)

## Sources

- [indianexpress.com](https://indianexpress.com/article/business/companies/essar-arcelormittal-nippon-steel-in-2-4-bn-pact-for-infrastructure-assets-8114328/), 2022-08-26: "Essar group on Friday announced the signing of a $2.4-billion (Rs 19,000 crore) pact to sell certain ports and power infrastructure assets to ArcelorMittal Nippon Steel (AM/NS)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.