After Essar Steel, ArcelorMittal now eyes EPC Constructions2 min read . Updated: 30 Oct 2018, 06:49 AM IST
ArcelorMittal has completed due diligence for EPC Constructions, used the data room open to bidders, and is likely to make an offer by 12 November
Mumbai: ArcelorMittal, which has emerged the top bidder for Essar Steel Ltd after a lengthy battle, has now set its sights on another Essar Group company undergoing insolvency resolution, a person aware of the development said. The world’s largest steel producer is expected to submit its bid for EPC Constructions (earlier called Essar Projects India Ltd) by 12 November, the person cited above said on condition of anonymity. A wholly-owned subsidiary of Essar Projects Dubai, EPC Constructions is involved in building infrastructure projects, power plants and refineries, among others.
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