ArcelorMittal offers to repay debt of Essar Steel Hazira, Paradip coal terminals
Essar Group is said to have agreed to ArcelorMittal's offer to settle dues of Hazira and Paradip coal terminals
Essar Steel's Hazira coal terminal in Gujarat owes lenders ₹1,364 crore, while Paradip terminal owes ₹484 crore
Mumbai: With ArcelorMittal close to taking over Essar Steel Ltd, two Essar Group-owned terminals supplying coal to the bankrupt steel plant have become prized assets. ArcelorMittal has agreed to repay the entire debt owed by these terminals once its Essar Steel acquisition is completed, said two people familiar with the matter, both of whom spoke on condition of anonymity. One of them said the Essar Group has also agreed to settle dues.