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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
When the Mittals first invested in the steelmaker back in 2009, it turned out to be a dud. Now, in its second avatar as part of AM/NS India’s downstream business, it holds the key to their plans.
ArcelorMittal’s turnaround strategy has worked once again, defying heavy odds. In the process, the steelmaker has cemented its place among the biggest players in India, the world’s second largest market.
Fifteen years ago, ArcelorMittal invested in Uttam Galva Steels. It marked the entry of the world’s second largest steelmaker to the Indian steel industry. But it’s only in 2024 that the Uttam Galva Steels unit in Khopoli, on the outskirts of Mumbai, is beginning to show signs of the promise it once held. It ended 2023—ArcelorMittal follows the calendar year to report its numbers—with a positive EBITDA, or earnings before …
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
A sharper growth push from Tata Steel is reshaping a long-running contest with JSW Steel and shifting the market’s loyalties. But can it keep its expansion-hungry rival at bay?
Acquisition of the German steelmaker would give the Indian steel entrepreneur substantial global heft. But it might also end up extracting a heavy price on his already-stretched group and its investors.
