ArcelorMittal Nippon Steel India has expanded its business to Jammu and Kashmir with the opening of its first Hypermart outlet. Located at Purmandal Morh in
ArcelorMittal and Nippon Steel Corp.’s joint venture steel company in India plans to invest about ₹1 trillion over 10 years to expand its operations in the country, a senior executive said
Gujarat-based ?ArcelorMittal Nippon Steel (AMNS) India said it is first such transaction in India. ?The end-to-end electronic transaction, comprising digital issuance of letter of credit (LC), advisory and presentment of documents took place among AMNS India, its Baroda-based customer Vijay Tanks and ICICI Bank, the steel maker said in a statement. In a step forward for digitising trade payments, AMNS India today (Sunday) announced it has executed the country s first domestic paperless bill discounting transaction in partnership with ICICI Bank, it said.
ICICI Bank was the intermediary between the buyer and seller, the statement said. The bank s branch in Baroda, Gujarat, issued an LC for the buyer Vijay Tanks, while its branch at Hazira advised and negotiated for the seller AMNS India, it said.