Reports related to this article:
Plant(s): View 5 related plants in PECWeb
Released February 11, 2019 | SUGAR LAND
en
India's private steel sector is racing toward a major overhaul. Top steel manufacturers are pulling all their strings to broaden their influence. Recent takeovers include Tata Steel's acquisition of Bhushan Steel for $4.9 billion; Vedanta Group's acquisition of Electrosteel for $4 billion; and Jindal's acquisition of Monnet Ispat for close to $1 billion. Ongoing efforts include a $4.9 billion bid for Essar Steel, and a $4 billion bid for Bhushan Power (Steel & Power).
These ongoing bidding wars account for one-fifth of the country's total steel-making capacity.
These ongoing bidding wars account for one-fifth of the country's total steel-making capacity.
