Essar Group

ArcelorMittal Nippon Steel India (AM/NS India) decided to invest in new construction and capacity expansion of upstream and hot-rolling facilities at the Hazira steel mill in India, increasing crude steel production capacity by approximately 6 million tons/year to about 15 million tons/year. Phase I operation starts in second half of 2025, Phase II in first half of 2026.

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.

ArcelorMittal Nippon Steel India signed definitive agreements to acquire Essar Group's port and power assets in India for $2.4 billion. The deal includes port assets in Gujarat, Andhra Pradesh, and Odisha, and power plants at Hazira, and a 50-50 JV for an LNG terminal.