Japan's Nippon Steel raises M&A budget for next 3 yrs, to join bid for India's Essar Steel

Japan's Nippon Steel raises M&A budget for next 3 yrs, to join bid for India's Essar Steel

Photo: Reuters

Nippon Steel & Sumitomo Metal Corp, Japan’s biggest steelmaker, will raise domestic capital spending by 35 percent over the next three years to upgrade aging plants and triple its investment budget to step up global expansion.

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