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ArcelorMittal USA wants USD 1.4 billion award from Essar Steel confirmed

Steel News - Published on Wed, 17 Jan 2018

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Law360 reported that a US subsidiary of steel manufacturing giant ArcelorMittal SA has asked a Minnesota federal court to confirm USD1.38 billion International Chamber of Commerce award against Essar Steel Ltd, which it won after Essar failed to deliver on an iron ore pellet supply deal.

ArcelorMittal USA LLC, which operates steelmaking facilities that supply steel products for use in the automotive, pipe and tube, and appliance industries among others, told the court in a Jan. 11 petition that the court is obligated to confirm the award.

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Posted By : Nanda Koijam on Wed, 17 Jan 2018
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