ArcelorMittal in talks over partnership with Russia's Inprom
ArcelorMittal, the world's largest steelmaker, is talking to metal services company OAO Inprom about forming a "strategic" partnership in the former Soviet Union.
By Agencies |
MOSCOW: ArcelorMittal, the world's largest steelmaker, is talking to metal services company OAO Inprom about forming a "strategic" partnership in the former Soviet Union.
ArcelorMittal may acquire a minority stake or set up a joint venture, Inprom spokesman Sergei Korzhov said today.
A tie-up would allow ArcelorMittal, which has operations in Ukraine and Kazakhstan, to expand in the Commonwealth of Independent States, the loose union of 12 countries that replaced the Soviet Union.
ArcelorMittal is seeking to produce 4 million metric tons a year of steel in Russia in the next three to five years, Metal Bulletin reported yesterday.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
