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CCI approves acquisition of Assets of Essar Group by ArcelorMittal Nippon Steel India Limited

Newdelhi:29/9/22:The Competition Commission of India (CCI) approves acquisition of Assets of Essar Group by ArcelorMittal Nippon Steel India Limited.

The proposed combination involves the acquisition of certain assets (a) Power Assets (Essar Power Hazira Limited (EPHL), Gandhar Hazira Transmission Limited (GHTL)); (b) Port Assets (Hazira Cargo Terminals Limited (HCTL), Ibrox Aviation & Trading Private Limited (IATPL), Essar Bulk Terminal Limited (EBTL), Essar Bulk Terminal Paradip Limited (EBTPL), Essar Vizag Terminals Limited (EVTL)); (c) Other Assets (Snow White Agencies Private Limited (SWAPL), Bhagwat Steel Limited (BSL)) from the Essar Group (EG/ Target) by ArcerlorMittal Nippon Steel India Limited (AMNS/ Acquirer). All these target assets belong to the Essar Group. AMNS is a Joint Venture between ArcelorMittal S.A. (AM) and its affiliates and Nippon Steel Corporation, Japan (NSC).

EPHL is a power plant adjacent to AMNS, Hazira, Gujarat and comprises two generation units of 135-MW capacity each and is used by the acquirer for captive purposes.

GHTL is a public company incorporated to carry out the business of prospecting, exploring, mining, processing, buying, selling, distributing, and generally dealing in all minerals, including coal, and also dealing in the generation, purchase, transmission, distribution, and sale of electricity. It has 400 kV transmission line from Gandhar (NTPC) switchyard to Hazira having a length of 104.6 km which is used by Acquirer for captive purposes.

EBTL has an-all weather, deep draft dry bulk jetty located in the Gulf of Khambatt, Magdalla Port terminal of Gujarat Maritime Board (GMB) with a capacity of under 25 million metric tonnes per annum (MMTPA). It provides the following facilities: (i) cargo handling services; (ii) jetty services; (iii) vessel handling services; (iv) pilotage; and (v) towage and is used by the Acquirer for captive purposes.

EBTPL has an all-weather dry bulk terminal licensed from Paradip Port Trust (PPT) with a capacity of 8 MMTPA. It has a fully mechanized ship loading system with a capacity of 4,500

tonnes per hour (TPH). It provides the following services (i) bulk cargo handling; and (ii) mooring services and is used by the Acquirer for captive purposes.

EVTL is the concessionaire of an all-weather, deep-water terminal under Visakhapatnam Port Trust (VPT) with an existing capacity of 12 MMTPA.

HCTL is the holding company of EBTL and EBTPL. HCTL, through its holding in EBTL and EBTPL, specializes in the development and operations of ports and terminals for handling bulk and general cargo. HCTL through its subsidiaries has an existing capacity of 66 metric tonnes per annum (MTPA) in India.

IATPL is a holding company and does not have any business operations.

SWAPL is a private company, it owns a land parcel in Odisha along with an office and a guest house. The office and the guest house are primarily used by the Acquirer’s employees.

BSL previously known as Essar Steel Chhattisgarh Limited has not commenced any business operations.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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