AM/NS India Joint Venture Announces Major Expansion Plans

SEATTLE (Scrap Monster): The AM/NS India- the joint venture steel project between two of the world’s leading steel manufacturers-Nippon Steel and ArcelorMittal announced major expansion plans aimed at doubling its steel production capacity to 23 million tons per annum by 2030. The expansion plan comprises of fresh investments in latest technologies, apart from new acquisitions.

The AM/NS India joint venture is currently the country’s fourth largest steelmaker, after Tata Steel, JSW Steel and state-owned Steel Authority of India (SAIL). The current capacity is estimated at around 9.6 million tons per year.

As per forecasts, the Indian steel products demand is expected to touch 230 million tonnes per year. AM/NS India targets to boost its production capacity to cater to at least 10% of that demand. It must be noted that the country’s crude steel output had recorded the first increase in over eight months in October this year.

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The expansion includes installation and expansion of blast and oxygen furnaces, coke oven at its Hazira steel plant. It had recently reacquired Odisha Slurry Pipeline Infrastructure, which was originally part of Essar Steel but was sold later. More acquisitions are also on cards, the company hinted.