ArcelorMittal pays â¹7,000 cr to qualify for Essar Steel bid
World's largest steel producer ArcelorMittal has reportedly transferred â¹7,000 crore to an escrow account to become eligible to bid for Essar Steel in its insolvency process. The funds will be used to clear the dues of Uttam Galva Steels and KSS Petron, where ArcelorMittal once held stakes. The Lakshmi Mittal-led company had offered â¹32,000 crore for Essar Steel.