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India is the most promising market, according to Nippon Steel & Sumitomo Metal Corp. The company wants to become an ''insider'', claims a report by Reuters, in order to capitalise on what the Japanese steel giant views as the world''s third-biggest steel market.
Trade and distribution issues, however, make it imperative that NSSMC becomes a so-called insider and that, claims NSSMC''s executive vice president in an interview with Reuters, is why the Japanese steel company is bidding for Essar Steel.
Katsuhiro Miyamoto said he expects a decision at the end of the month.
NSSMC has joined forces with ArcelorMittal and is bidding around US$6 billion for Essar Steel, India''s fourth biggest, but sadly bankrupt, steelmaker.
According to Miyamoto, buying Essar Steel will give NSSMC and ArcelorMittal (the world''s largest steelmaker) access to India''s general steel users, including builders.
NSSMC is stepping up its global expansion plans and intends to spend around 600 billion yen (US$5.4 billion) on business investment over the next three years.
壓鑄展-鑄造展-2019第二十屆廣州國際壓鑄、鑄造及工業爐展覽會-中國最受關注的壓鑄鑄造展會-巨浪展覽
-The 20th China(Guangzhou) Die-casting, Foundry
& Industry Furnace Exhibition
-Die-casting exhibition, Die-casting expo,2019
Die-casting exhibition, 2019 Die-casting expo, China Die-casting exhibition,
China Die-casting expo, Foundry exhibition, Foundry expo, 2019 Foundry
exhibition, 2019 Foundry expo, Industry Furnace exhibition, Industry Furnace
expo, 2019 Industry Furnace exhibition, 2019 Industry Furnace expo, China
Industry Furnace exhibition, China Industry Furnace expo
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