To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
REUTERS/Francois Lenoir Workers stand near the logo of ArcelorMittal, the world’s largest producer of steel, at the steel plant in Ghent, Belgium, July 7, 2016.
Reuters
17:58 JST, April 4, 2023
BENGALURU (Reuters) – ArcelorMittal SA MT.LU on Friday said AMNS Luxembourg Holding S.A., the parent company of ArcelorMittal Nippon Steel India (AM/NS India), has entered into a $5 billion loan deal with a consortium of Japanese lenders.
The proceeds would be used to fund the expansion of AM/NS India’s annual capacity at its Hazira plant in India to 15 million tonnes from 9 million tonnes, the European steelmaker said in a statement.
The expansion would include the development of downstream rolling and finishing facilities for a string of sectors including defense, automotive and infrastructure, and add 60,000 jobs, it said.
ArcelorMittal Nippon Steel India is a 60/40 joint venture between ArcelorMittal and Nippon Steel Corp 5401.T, owned by AMNS Luxembourg Holding S.A.
The Japanese banks include Japan Bank for International Cooperation, MUFG Bank, Sumitomo Mitsui Banking Corp, Sumitomo Mitsui Trust Bank, Mizuho Bank, Mizuho Bank Europe NV.
