ArcelorMittal Nippon
Steel India is seeking to raise Rs 85 billion from banks to fuel its expansion
plans, with State Bank of India, ICICI Bank, and Axis Bank expected to
participate. The funds will be directed towards capital expenditure to boost
capacity in line with projected infrastructure investments, potentially marking
India's largest rupee-denominated loan this year. As the fourth-largest flat
steel producer in India, the joint venture between ArcelorMittal South Africa
and Nippon Steel Corp aims to meet the significant steel demand in sectors like
construction, infrastructure, engineering, packaging, and automotive.
