ArcelorMittal Nippon Steel, the Indian arm of the global steel giant, has announced plans to acquire Essar's ore handling terminal at Vizag Port. This acquisition will bolster the company's shipping and logistics capabilities, as it looks to strengthen its position in the Indian steel market. The terminal is strategically located and well-equipped, making it an attractive asset for the company. ArcelorMittal Nippon Steel has expressed confidence that this acquisition will help it to improve operational efficiency and deliver value to its customers. The deal is expected to be finalized soon, subject to regulatory approvals.