ArcelorMittal Nippon Steel India to the infrastructure assets of Essar Group for $2.4bn.

ArcelorMittal Nippon Steel India, a joint venture between steelmakers ArcelorMittal and Nippon Steel, agreed to the port, power and other logistics and infrastructure assets of Essar Group, a producer of steel, for $2.4bn. The assets are either captive, including port assets in Gujarat, Andhra Pradesh and Odisha, or allied to AM/NS India’s steelmaking and will strengthen the strategic integration of the company’s manufacturing and logistics chain.