UK NRI steel tycoon Lakshmi Mittal
2024:
Arcelor Mittal to build single largest steel
site at Hazira: Laksmi Mittal
January 22,2024
Lakshmi Mittal, the executive chairperson of steel manufacturing corporation ArcelorMittal, on Wednesday announced that the corporation will build the world's single largest steel manufacturing site at Gujarat's Hazira by 2029. Mittal was addressing the ongoing Vibrant Gujarat Global Summit (VGGS) 2024 while making the announcement.
The steel baron said that the first phase of the steel manufacturing site will be completed by 2026 whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029. Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel, making it the world's largest steel manufacturing site.
"Hazira expansion was inaugurated by PM in 2021. Phase one will be completed by 2026, 2nd phase MoU signed, will be completed by 2029 and will produce 24 mn tonnes steel and it will become the world's biggest plant," Lakshmi Mittal said at the summit.
In October 2022, ArcelorMittal arm ArcelorMittal Nippon Steel (AMNS) India had announced an investment of around Rs 60,000 crore to scale up the capacity of the steel plant to 15 MT, company chairman Aditya Mittal told PTI at the time. The investment was for installation of new steel making technologies, setting up new-age machineries and increasing product mix.
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2022:
UK NRI steel tycoon Lakshmi Mittal net worth 2022 is $18.3 billion
January 26,2022
As stated by the Forbes list index, NRI Lakshmi Mittal is one of the richest men in India and the world's largest steelmaking company, ArcelorMittal.
Lakshmi Mittal serves as chairman of $53.3 billion (revenue) ArcelorMittal
- In January 2021, Mittal ceded the CEO's position to his son, Aditya Mittal, but remains executive chairman of ArcelorMittal.
- The company reported a net loss of $700 million in 2020, a year in which steel shipments declined by close to a fifth.
- In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel
2020:
NRI Lakshmi Mittal, Chairman and CEO, ArcelorMittal NET WORTH $10.6B
- Nov 10, 2020: Lakshmi Mittal, chairman and CEO of $70.6 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output.
- Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006.
- The company reported a net loss of $2.5 billion in 2019, due to lower steel prices and higher raw material costs.
- In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel, once controlled by billionaires Shashi and Ravi Ruia.
- His son, Aditya Mittal is ArcelorMittal's president and chief financial officer. His daughter, Vanisha Mittal Bhatia, has a board seat.
FORBES REPORTED....Click Here
-ArcelorMittal is the
world's leading steel company, with operations in more
than 60 countries. ArcelorMittal is the leader in all
major global steel markets, including automotive, construction,
household appliances and packaging, with leading R&D
and technology, as well as sizeable captive supplies
of raw materials and outstanding distribution networks.
With an industrial presence in over 20 countries spanning
four continents, the Company covers all of the key steel
markets, from emerging to mature.In 2008, ArcelorMittal
had revenues of $124.9 billion and crude steel production
of 103.3 million tonnes, representing approximately
10 per cent of world steel output.
- Country of Citizenship: India
- Source of Wealth: Steel
2014:
2013:
- Net Worth- $16.5 B As of March 2013
- Lakshmi Mittal is facing hard times; his fortune dropped more than $4 billion in the past year, and is down $14.6 billion in two years as shares of his ArcelorMittal, the world's largest steelmaker, tanked due mainly due to slumping demand in Europe, which forced it to take a $4.3 billion writedown.
March 2012: Age: 62
It reported a net loss of $3.7 billion in 2012
- Net Worth
$20.7 B
- #21 Forbes Billionaires
- #2 in India
- #47 Powerful People
2011:
Fifty Indians, including Lakshmi Mittal with a net worth of $31.1billion made it to the Forbes list-Fifty Indians, including L.N. Mittal, the Ambani brothers and Azim Premji, have made it to the Forbes list of World Billionaires 2011, as Indians Chinese, Russians and Brazilians raced to catch up with Americans, still at the top. Indian steel czar Lakshmi Mittal with a net worth of $31.1 billion grabbed the sixth place with net profits of ArcelorMittal, world's largest steel-maker, rising 18-fold to $2.9 billion in 2010 on recovery in demand for the commodity and higher margins
2010:
2009:
UK
NRI steel
tycoon, posts $903m
gain after three quarterly losses
EU
approves acquisition of Dutch company by ArcelorMittal
 UK
NRI Mittal of ArcelorMittal eliminate as many as 9000
jobs worldwide (38)
2008:
UK
NRI steel tycoon Lakshmi Mittal, now world's biggest
loser after his net worth 13.7 billion
dollars as compared $45 billion in January.
UK
NRI Mittal steel tycoon wins Forbes Lifetime
Achievement Award- I'm not done yet..
I'm still pretty young: Mittal
UK
NRI Mittal steel tycoon buys third major
property for £70 million in London
2008-35
NRIs
among the recipients of the Padma awards from President
of India
UK
NRI Mittal (ArcelorMittal), steel tycoon to invest
USD 25 billion in India
March
05, 2008: Four Indians figured in the top 10, with
NRI/Indian steel entrepreneur Lakshmi Mittal placed
fourth with 45 billion dollars and heads world's largest
steelmaker, $105 billion (sales) ArcelorMittal, which
accounts for 10% of all crude steel production. Just
delivered 580 tons to be used in construction of the
World Trade Center memorial in New York. With 44%
stake, is the company's largest shareholde
UK
NRI Mittal and US Farallon Capital, bought 28.6% stake
in Indiabulls for Rs 1,580 crore
2007:
NRI,
fifth richest man in the world, has bought up a 20
per cent stake in Queen's Park Rangers, soccer
club UK
Dec.
04, 2007: ArcelorMittal
Acquires Leading UK distribution company, NSD Ltd
(1)
July28,
2007: Mittal
Steel Poland captures 90% steel production in Poland
April
23, 2007: Sunday Times Rich List- Lakshmi
Mittal remains Britain's richest man at Sunday Times
Rich List
March
25, 2007: NRI
Mittal, steel tycoon sign
MoU with HPCL for Bhatinda, Punjab refinery
De.
31, 2006: NRI
Mittal
named Businessman of 2006 by The Sunday
Times
Dec.
06: NRI
Lakshmi Mittal top UK rich list
Nov. 17: Lakshmi
Mittal, remains No. 1, worth $25 billion in the Fortune
list of 40 richest in India
Nov.06:
NRI
Mittal
appointed CEO of merge Arcelor Company
July
26: NRI
Mittal, steel tycoon
now owns 92% of Arcelor (06_27)
July
04: NRI
Mittal, steel tycoon
in India -Worried Tatas in Steel Sector (26)
April
09: NRI
Mittal, steel tycoon, richest Asian in Britain in
2006 (25)
March
01: NRI,
UK, Steel tycoon Lakshmi Mittal is the richest Indian
(24)
Jan.
30: Arcelor
rejects Mittal's takeover bid
Jan
28: NRI,
Mittal made
a $22.8 billion offer to take over its rival, Arcelor
Jan
19, 2006: NRI,
Lakshmi Mittal is the Richest Man in South Africa
Nov.09,
2005: NRI,
Mittal launched Rs. 40 crore "Mittal Champions
Trust" for young
Indian sports men and women
Nov.
01 :
NRI Mittal donated $3 million Kellogg MBA scholarships
20
Oct.
28:
Mittal wins 'Asian Entrepreneur of the Year' Award
19a
Oct.
12:
NRI Mittal donate one million dollars Hurricane Katrina
rebuilding
Oct.12:
NRI, Mittal to invest 134mn pounds in Mexico &
5 billion pounds at Jharkhand, India
(18)
Sep.
26: NRI
Lakshmi Mittal has appointed his daughter on the board
July
14: NRI
Lakshmi Mittal has donated 2 million pounds to the
Labour Party
June
23: Lakshmi
Mittal becomes a major investor in RAB Capital
June
07: NRI
steel tycoon Lakshmi Mittal, may invest in Jharkhand
June
03: NRI
MITTAL EARNS RECORD INCOME US $4.7 billion in 2004
May
14: Mittal
donates $2 mn to tsunami aid
May
02: An
NRI from Rajasthan said, "Steel industry
flourishing"
April
20: Lakshmi
Mittal, NRI denies reports of investment in India
(05_10)
April
03: Lakshmi
Mittal richest in Britain- wealth 14.8 billion pounds
(05_9)
March
22: Lakshmi
Mittal, NRI steel tycoon richest in Europe (8)
March
13: UK
NRI steel baron Lakshmi Mittal 3RD -RICHEST
PERSON IN THE WORLD
Feb.
01: NRI
steel tycoon Lakshmi Mittal, has earned a record net
income of 4.7 billion dollars in 2004 (05_6)
Feb.
01: LAKSHMI
MITTAL TO INVEST US $5 BLN IN STEEL OVER NEXT FIVE
YEARS (05_5)
Jan
16: Lakshmi
Mittal named 'Europe Businessman of the Year'(05_4)
Jan 16: Mittal
plans three more acquisitions in Eastern Europe
(05_3)
Jan
13:Mittal
donates one million pounds for tsunami relief
(05_2)
Dec. 05, 2004: Mittal
faces piquant situation- site of an iron ore mine
on one mass grave at Bosnian Serbs
Nov. 20, 2004: Mittal
to celebrate daughter's wedding in Kolkata, Delhi
Oct 26, 2004: Britain's
richest man- Lakshmi Mittal, NRI, Steel Tycoon
worth £12bn
Oct. 25, 2004: NRI
business tycoon Lakshmi N Mittal-owned Ispat International
today emerged as world's largest steelmaker
Oct. 07, 2004: NRI
Mittal of LNM to invest more than a 1 billion dollars
into CEE
July 01, 2004: NRI
steel baron Lakshmi Mittal, will build its first steel
production plant in China with an estimated investment
of $100 million.
May 25, 2004: Britain's
4th richest NRI Mittal's daughter to marry
- Amit
Bhatia (L) and Vanisha Mittal celebrate at rings ceremony
during their wedding festivities at Versailles in
Paris
Short
Biography of both Families
March 08, 2004: Lakshmi Mittal
4th richest in Britain: His
wealth was put at 3.1 billion pounds this year as
against 1.25 billion pounds in 2003.
Lakshmi Mittal:
one of the UK's richest tycoons
Rise
of the billion dollar knight in shining armour Lakshmi
Mittal owns a company bigger than British Steel and
is the UK's wealthiest Asian. So why have so few heard
of him?
January 16, 2004
London-based
Indian steel magnate Lakshmi Mittal is believed to
have embarked on a new initiative to gain total control
of the South African steel industry
NRI
industrialist Lakshmi N.Mittal, has signed an MoU
to set up a cold rolling and coating plant in China
Mr Lakshmi
N. Mittal
Chairman and CEO
Mittal Steel Company Ltd, United Kingdom
Mr. Lakshmi N. Mittal is the Chairman and CEO of
Mittal Steel Company. He founded the company (formerly
the LNM Group) in 1976 and has been responsible
for the strategic direction and development of its
businesses.
Mittal Steel is the only truly global steel producer
in the world with operations on 14 countries, spanning
4 continents.
Mr. Mittal's ability to guide the company in its
identification, acquisition and turnaround of steel
assets has led to its emergence as one of the world's
fastest growing steel producers.
Mr. Mittal began his career working in the family's
steelmaking business in India, and has over 30 years
of experience working in steel and related industries.
Over the years, Mr. Mittal has also championed
the development of integrated mini-mills and the
use of Direct Reduced Iron or "DRI" as
a scrap substitute for steelmaking and led the consolidation
process of the global steel industry.
Other related activities of Mittal Steel include
shipping, power generation and distribution, and
mining.
Following the transaction combining Ispat International
and LNM Holdings to form Mittal Steel in December
2004, together with the simultaneous announcement
of the acquisition of International Steel Group
in the US to form the world's largest steel producer,
Mr. Mittal was awarded Fortune magazines "European
Businessman of the Year 2004".
Previously, he was awarded "Steelmaker of
the Year" in 1996 by New Steel in the USA,
and the "Willy Korf Steel Vision Award"
in June 1998, for outstanding vision, entrepreneurship,
leadership and success in global steel development
from American Metal Market and PaineWeber's World
Steel Dynamics.
Mr. Mittal is an active philanthropist and a member
of various trusts. Mittal Steel is a significant
contributor to local community and welfare activities
for employees in countries where the Group operates.
Mr. Mittal is a member of the Foreign Investment
Council in Kazakhstan, the International Investment
Council in South Africa, the World Economic Forum's
International Business Council and the International
Iron and Steel Institute's Executive Committee.
He is a Director of ICICI Bank Limited and is on
the Advisory Board of the Kellogg School of Management
in the U.S.
He was born in Sadulpur in Rajasthan, India on
June 15, 1950, and graduated from St. Xavier's College
in Calcutta where he received a Bachelor of Commerce
degree.
He is married to Usha Mittal, and has a son, Aditya
Mittal and a daughter, Vanisha Mittal.
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