The world\u2019s biggest steelmaker, ArcelorMittal, and Japan\u2019s top mill will form a partnership to bid for Essar Steel India Ltd., the insolvent producer that could fetch at least $6 billion. Arcelor and Nippon Steel & Sumitomo Metal Corp. said in a statement they have joined the bidding for Essar, which is on the block after entering an Indian government-mandated process designed to clean-up companies that can\u2019t repay their debts.Luxembourg-based Arcelor will be the majority partner, Kosei Shindo, president of Nippon Steel, said at a briefing in Tokyo, describing the venture as \u201calmost 50:50.\u201d He said the bidders want to target demand from the construction industry, which is set benefit from a massive infrastructure push by India\u2019s government that could triple the nation\u2019s steel capacity.The joint acquisition by the companies depends on their plan being selected and accepted by Indian courts. Essar is the largest distressed steelmaker being sold under the program, and is also the subject of a bid from Russia\u2019s state-controlled VTB Group. Arcelor and Nippon Steel have operated joint ventures in America going back to 1987, and partnered on another U.S. purchase in 2014. In the statement, Lakshmi Mittal, Arcelor\u2019s chief executive officer, promised a \u201crapid turn-around in Essar\u2019s performance,\u201d citing \u201ca rich history of positive collaboration\u201d with the Tokyo-based company.Advisers evaluating offers for Essar had recommended last month that both Arcelor and VTB should be disqualified after querying whether they met the bidding criteria.