ArcelorMittal team visits Bhushan, Essar plants for due diligence

A team led by Aditya Mittal, group chief financial officer and chief executive officer, ArcelorMittal Europe, is conducting due diligence of Essar and Bhushan Steel plants, upping the tempo of the court-led insolvency process for stressed steel assets.

Mittal was in India last week with a team of about 40 people for the due-diligence exercise, multiple sources said.

On being asked about it, ArcelorMittal said that members of the management team were conducting due diligence on steel assets available through the current insolvency process.

“India is a high-growth market, and therefore, of interest to ArcelorMittal. We remain in active discussions with SAIL to