5 billion dollar loan from ArcelorMittal

ArcelorMittal, the world's largest steel producer and a 4.88 percent shareholder of Ereğli Demir Çelik, is a subsidiary of Nippon Steel Corp. in India. He stated that he has entered into a $5 billion loan agreement with a consortium of Japanese banks to increase the production capacity of his steelmaking joint venture he founded.

ArcelorMittal, which is also a partner of Ereğli, recently sold its shares there, putting downward pressure on the company's share prices in the stock market. ArcelorMittal has a 4.88 percent share in Ereğli Demir Çelik.