Aditya Mittal appointed chairman of Essar Steel

Mumbai:

Aditya Mittal

, son of

ArcelorMittal

chairman Lakshmi Mittal, has been appointed as the chairman of

Essar Steel

after the European major along with its Japanese partner took control of the local metal maker. ArcelorMittal holds 60% of Essar Steel while Nippon Steel owns the rest. Essar Steel’s CEO Dilip Oommen will continue to run the operations of the company.

After the acquisition of Essar Steel was completed, the new promoters have changed the name of the company to ArcelorMittal Nippon Steel India (AMNS). The promoters plan to increase shipments of finished steel of AMNS to 8.5 million tonnes from the current 7.5 million tonnes. This will be achieved by completing ongoing capital expenditure projects and infusing expertise to deliver efficiency gains, and then through the commissioning of additional assets, while simultaneously improving product quality to realise better margins, AMNS said.


Stay informed with the latest Business News on Times of India. Explore updates on International Business, gain insights with Financial Literacy tips, and make use of Financial Calculators. Don’t forget to check the list of Bank Holidays in 2025, including Bank Holidays in January.