Mittal confirmed ArcelorMittal's partnership with ONGC not over, even as there are few projects they are discussing.
On Tuesday, ArcelorMittal Group Management Board Member Sudhir Maheshwari had said during a conference call that they have made 'a proposal to SAIL and are in discussion with SAIL (to set up a steel plant through joint venture).'
Mukherjee, 60, responsible for Asia, Africa, the CIS, mining, stainless and pipes and tubes, will retire on May 13, the date of the company's annual general meeting, a company release said. The board of directors will propose to the AGM of shareholders that he will be appointed as a non-executive member of the Company's Board of Directors effective from that date.
The transaction, subject to antitrust authorities approval, is expected to be completed by the end of this year, said Gonzalo Urquijo, member of the Group Management Board of ArcelorMittal.
We wish to build a leading investment banking set up in India.
Global steel giant ArcelorMittal on Friday said its executive vice president, member of the management committee and head of strategy, Bill Scotting will be the new chief executive of ArcelorMittal Mining.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
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