ArcelorMittal's Essar bid delays planned JV with SAIL: Minister
Union Minister Chaudhary Birender Singh said ArcelorMittal's bid to buy Essar Steel is delaying its joint venture with state-owned SAIL. The Lakshmi Mittal-led company signed a deal with SAIL in 2015 to establish a steel plant to produce automotive grade steel. "Both the companies are ready to sign definitive agreements, but ArcelorMittal is busy with Essar Steel acquisition," Singh added.