The world's largest steel maker, Mittal Steel Company, has made a long-term commitment to China by setting up a research institute for metals in central Hunan province.
"Their (Arcelor Mittal) management board member Malay Mukherjee was here in Ranchi. He said the company is satisfied with the development of the proposed steel project in Jharkhand," Chief Minister Madhu Koda told reporters in Ranchi. He was reacting to a query that steel tycoon L N Mittal reportedly expressed disappointment with his projects, both in Jharkhand and Orissa, last week.
Steel Minister Ram Vilas said in a meeting that the prime minister could intervene, if need be, to provide iron ore blocks to Lakshmi Mittal, CEO of ArcelorMittal, for his two proposed 12 mn tonne steel plants in India. The world's biggest steelmaker has signed MoUs with Jharkhand and Orissa governments to set up greenfield steel plants wherein it will invest a total of Rs 80000 cr. ArcelorMittal has already been allotted two coal blocks, one each, in Orissa and Jharkhand.
The steel magnate, however, said that with the measures that the Indian government has announced in last couple of months, the confidence is starting to build up.
The two-year-old Mittal Champions Trust, set up by the world's richest Indian Lakshmi Niwas Mittal, is not satisfied with the results at the Beijing Olympics that yielded just one medal from the 56-strong Indian squad.
He feels that the reserve price set by the government for the 2G spectrum auction was very high.
Lakshmi Mittal and Arun Sarin, two India-born entrepreneurs, have figured out in UK's Power 100 list.
Queen's Park Rangers, the Championship football club co-owned by two of the billionaires behind F1, on Thursday welcomed one of the world's richest men into its fold when Lakshmi Mittal bought a 20 per cent stake, writes Roger Blitz.
India's steel market is out of step with global trends. Global demand is weak with China at a huge supply surplus to its domestic demand, pushing down global steel prices. India's domestic demand for steel is strong, given the continuing infrastructure push and is likely to accelerate as urbanisation improves, and the auto sector continues to grow alongside the infrastructure push.
Exercise. Check e-mails. Wake up to a cup of tea.
Mittal Steel on Friday announced that it had bought a 37.17 stake in Hunan Valin Steel Tube Wire, a subsidiary of Hunan Valin Iron & Steel of China for $314 million.
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.
Striking a different chord with Prime Minister Manmohan Singh, who prescribed a social charter for the industry, Confederation of Indian Industry's new president Sunil Mittal on Friday
Singapore based telecom firm SingTel, which holds over 30 per cent stake in Bharti Airtel, on Wednesday said it has full faith in the company's corporate governance standards under the leadership of company's chairman Sunil Bharti Mittal.
Coercion does not work. People will find ways to come around it. No one can legislate that industry cannot spend, or not be ostentatious, says Sunil Mittal.
Calling his a friend, Sarkozy said he has asked steel magnate L N Mittal to justify shutting down of his steel plant and compensation for the job losses.
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).'
Mittal Steel Company NV, which acquired Luxembourg's Arcelor SA for $38.3 billion last year, said on Thursday it would complete the transaction in a two-step merger this year.
In an interview to the Financial Times in Tokyo, Mittal has said that his new strategy was to have a number of smaller steelmaking hubs in different parts of the country each capable of making a few million tonnes of steel a year.
The 'Iron Man of India' has emerged a contender to buy English Premiership football club Birmingham City after making an initial inquiry, The Daily Telegraph reported on Wednesday.
The Sunday Times said Lakshmi Mittal embodied the rise of a new breed of Indian entrepreneur: confident and commanding on the world stage.
Airtel has pitched for a hike in mobile and data tariffs.
What might seem like harmless flirting to you could be interpreted differently by him, especially when you have a history with that person, says rediffGURU Ravi Mittal.
Says spending $3 billion every year on networks alone
While Airtel's financial performance started improving from third quarter of 2013-14, the the drop in the total remuneration of Mittal has been mainly because of Rs 75 lakh (Rs 7.5 million) reduction in performance-linked incentive, as per the latest Annual Report of the company.
Two Indian steel tycoons - Ratan Tata of Tata Steel and NRI Lakshmi Mittal of global powerhouse Mittal Steel - have made it to the world's best CEOs list compiled by US stock market weekly Barron's.
India's Ankur Mittal won silver medal in the men's double trap event at the ongoing ISSF World Shotgun Championship, in Moscow, on Tuesday.
Hindustan Petroleum Corporation, the state-owned company, could find itself becoming a major player in the oil and gas sector both within the country and overseas with huge capital being pumped in by the L N Mittal-promoted Mittal Investments.
Arcelor Mittal has announced key changes in senior positions within Mittal Steel USA in an effort to improve operational performance and align the company's flat products division in America with long-term goals for the combined company.
When the news of steel baron LN Mittal getting into the energy sector without his Indian exploration and production partner, Oil and Natural Gas Corporation surfaced, there was much speculation about whether the alliance was on the verge of a break-u
NRI steel tycoon L N Mittal will arrive in New Delhi on July 7 to review his India plans, just days after reaching an agreement to merge Mittal Steel with it nearest rival Luxembourg-based Arcelor to create the world's largest steel conglomerate.
Indian steel magnate Pramod Mittal was confirmed on Tuesday as Bulgarian premier league club CSKA Sofia's new owner.
Non-Resident Indian billionaire Lakshmi Mittal has said he does not want a cricket team in the Indian Premier League, and was "glad" for not having bought one already, given the recent controversy shrouding the twenty-twenty format of the game.
India-born steel magnate LN Mittal met Prime Minister Manmohan Singh on December 8 to discuss his plans in the oil and gas sector in India. The meeting has led to reports that Mittal is interested in taking over Cairn India's assets, which includes prospective oil discovery in Rajasthan.
Steel baron Lakshmi Mittal, on his first visit to India after acquiring world No.2 steel firm Arcelor, will meet Prime Minister Manmohan Singh on Friday
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
Mittal Steel on Friday said it was serious about setting up greenfield projects both in Orissa as well as Jharkhand and has shortlisted three probable sites for its 12 million tonne plant in Jharkhand.
Mittal, who holds 623.62 million shares of the firm, would get $233.85 million at each payout. Mittal family is the promoter of the company with a 43.04 per cent stake, valued at about $39.1 billion, while other public shareholders hold 56.96 per cent.
Netherlands-based Mittal Steel on Tuesday claimed it has met the minimum conditions for takeover of Arcelor by acquiring 50 per cent of the Luxembourg-based company's outstanding shares.
