Jharkhand Chief Minister Madhu Koda has assured Arcelor Mittal, the world's largest steel making company
"There could be a slight delay in getting the approval from SEBI, so there could be few days delay in starting the open offer but we are still on target to complete this transaction by middle of December."
India-born billionaire Lakshmi N Mittal may take 49 per cent stake in Hindustan Petroleum Corp Ltd's under-construction $3 billion refinery at Bhatinda in Punjab.
In corporate India where family disputes have become far too common, the Miglanis work as a team.
The company's statement comes amid reports that the steel tycoon will get a one billion pound windfall from a European scheme to curb global warming, if it chooses to sell its excess carbon credits.
\n\nNRI steel tycoon Lakshmi Mittal appears to have crossed the first hurdle with three European regulators publishing the official $22.1 billion bid for his takeover of the Luxembourg-based Arcelor steel company.\n
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
The Mittal family stake has shot up to £14.881 billion ($26.517 billion), according to the Sunrise Rich List.
Non-Resident Indian steel magnate Lakshmi Mittal has donated £2 million to the Labour party.
The world's largest steelmaker, Mittal Steel Co. will buy 36.7 per cent stake for $316 million in China's Hunan Valin Steel Tube & Wire Co.
Mexican billionaire Carlos Slim remained the richest person in the world with $74 billion in assets, while NRI steel magnate Lakshmi Mittal ranked sixth and Indian industrialist Mukesh Ambani is placed ninth in the US magazine Forbes annual list of world's top billionaires.
The L N Mittal-led giant is also said to be looking for a tie-up with Grupo Villacero, a steel distribution company in Mexico.
Reliance Industries Chairman Mukesh Ambani on Monday said his company is open to joining hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Steel tycoon Lakshmi Mittal on Wednesday asked investors not to be perturbed by the fall in valuation of ArcelorMittal saying he is the largest stakeholder and is interested in creating more wealth for shareholders.
L N Mittal's foray into oil and gas trading business through a joint venture with ONGC is facing fresh opposition from refiner Indian Oil Corp, which feels the JV is ineligible to bid for its tenders.
China had earlier this month announced up to 9 per cent rebate on exports of steel products to boost the shipment and production of the commodity. The Indian steel industry, along with its global counterparts, had taken strong exception to it and demanded import-restricting measures be imposed urgently.
Steel czar Lakshmi N Mittal is keen on selling half of his stake in a Kazakhstan oil field to state-run ONGC Videsh Ltd to tide over the severe financial constraint affecting his planned expansion in energy sector.
The company, headed by NRI billionaire Laxmi N Mittal, had clocked $0.345 billion net loss in the January-March quarter of the last year.
Both the accused placed on record the apex court's order and submitted separate personal bonds.
Indian-born steel tycoon Lakshmi Mittal became the third richest person in the world, trailing only Microsoft chief Bill Gates and US investment guru Warren Buffett.
Chinese steel industry has for the first time openly expressed concern over the merger of global steel giants, Mittal with Arcelor saying it posed "great challenge" for the domestic industry.
NRI steel tycoon Lakshmi Mittal has lost a long-running dispute with his neighbour, a member of the Saudi Arabian royal family over construction of a new block of flats.
ArcelorMittal is spending $5bn to double the output of its plant in Kazakhstan in a further expression of confidence by the world's biggest steelmaker in the likelihood of robust economic growth outside the main developed regions. Some $1.2bn of the investment is geared to improving health and safety at the steel plant in Temirtau and associated coal and iron ore mines.
Britain's richie-rich club saw their wealth melting away by more than half to 200 billion pounds in a year marked with a severe economic downturn, while Indian-origin steel tycoon Lakshmi Mittal took the biggest hit.
ArcelorMittal does not favour futures trading in steel, as it could distort the prices of the commodity completely.
Wardens and staff members of hostels in Kota will be given professional training in mess management, psychological and behavioural counselling, and other aspects of students' care to equip them to battle the rising number of suicides by aspirants in the coaching hub.
It had a $4.3 billion write down related to company's European businesses.
The world's largest steel manufacturer, Arcelor Mittal, has received approval from the US and Mexican competition authorities to acquire Sicartsa from Grupo Villacero for an enterprise value of $1.43 billion (about Rs 6,006 crore).
"We are hopeful of taking physical possession of the land by the end of the current year to start construction for the greenfield steel project. The pre-land acquisition process has already been successfully initiated," ArcelorMittal CEO, India, Vijay Bhatnagar told PTI in Bhubaneswar. The response from local residents during the first Gram Sabha, held on August 6 as part of the pre-land acquisition process, was positive toward the Rs 40,000-crore (Rs 400 billion) project.
Mittal Steel Company, owned by NRI steel tycoon Lakshmi Mittal, has earned a record net income of $4.7 billion for the twelve months ended December 31, 2004.
The company, however, maintained that the appointment is 'interim' and shareholders approval would be sought next year to make it a full-time engagement.
Deepening global credit crisis is taking a toll not just on financial institutions but is eroding individual wealth as well, with Britain's richest man Lakshmi Mittal losing nearly pound seven million per hour in the last four months, media reports said in London.
With global major Mittal Steel likely to foray into India with its proposal to set up a five million tonne steel plant in Jharkhand, Tata Steel has asked the government to check its track record before inviting the company.
ArcelorMittal has entered into binding agreements to reduce its economic and voting interest in Dillinger Hutte from 51.25 per cent to 33.4 per cent in line with existing governance rights through sale of shares to Struktur-Holding-Stahl GmbH & Co KG aA and Dillinger Hutte Saarstahl AG, a company statement said. Dillinger Hutte enterprise value is estimated to be about $2.6 billion, the statement said.
The government is likely to come out with 10 per cent stake sale offer of Oil India in the second fortnight of this month, followed by NTPC's issue in the first 14 days of February, a Finance Ministry official said.
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