Essar Steel: ArcelorMittal hits out at JSW for joining Numetal in 2nd round

JSW Steel would have more than 90 per cent share of the steelmaking capacity in western India

Round two bidding for Essar Steel clearly is going to be pitched between the world’s largest steelmaker, ArcelorMittal, and India’s largest, JSW Steel. On Monday, ArcelorMittal came out strongly against JSW Steel joining Numetal. “JSW Steel joining Numetal is clearly a defensive move — they don’t want competition. Competition is good for the country’s industry and good for consumers. Also, India has an ambitious target of increasing steel production to 300 million tonnes. It needs new players to achieve that. We continue to believe ArcelorMittal and Nippon are the strongest possible partner for Essar Steel,” a company statement said. 

Seshagiri Rao,