Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Nippon Steel offers $14B investment in U.S. Steel.
$4B planned for a new U.S. steel mill.
Approval decision expected by May 21.
Japan's Nippon Steel has significantly increased its investment pledge to $14 billion in a strategic move to secure approval for its proposed $14.9 billion acquisition of U.S. Steel. This enhanced commitment includes $11 billion allocated for infrastructure upgrades through 2028 and up to $4 billion earmarked for constructing a new steel mill in the United States
The proposed acquisition has faced political resistance due to national security concerns. The Committee on Foreign Investment in the United States (CFIUS) is currently reviewing the deal, with a decision expected by May 21. Nippon Steel's increased investment aims to address these concerns by demonstrating a strong commitment to the U.S. economy and workforce.
If approved, the acquisition would mark a significant expansion of Nippon Steel's global footprint, positioning it to better serve the American market and contribute to the revitalization of the U.S. steel industry.
Also Read : Green Steel Revolution: Tata Steel Partners with Three Welsh Firms SteelBazaar Insight: Global Coal Production Trends Signal Shift in Energy Strategy
The US government is reportedly contemplating measures to prevent Chinese smart car manufacturers fr...
USA 09-Feb-2024
From April 2023 to January 2024, the Waltair Railway Division of East Coast Railways recorded an all...
Raw Material 06-Feb-2024
India’s steel exports in May 2024 fell by 24% to 0.5 million tonnes (MT) from 0.66 MT in April...
Ferrous 14-Jun-2024
NHPC, the state-run hydropower powerhouse, has secured a 200 MW solar project for the Gujarat State...
Renewables 15-Mar-2024
VSSL to invest ₹2,000 crore in a greenfield steel plant in Punjab. The plant will add 500,000 MT an...
Business 29-Apr-2025
India's iron ore fines and lump exports reached a three-year high of 36.5 million tonnes (MT) in FY2...
Ferrous 18-Jul-2024