Arcelor Mittal-Nippon Steel Joint Venture Announced Major Expansion Plan

SEATTLE (Scrap Monster): AMNS India- the joint venture steel project between ArcelorMittal and Nippon Steel announced major expansion plans at its steel plants in Gujarat and Odisha. The expansion plans are aimed at reducing carbon footprints at these facilities.

Dilip Oommen, CEO, AMNS India stated that the company plans to undertake a major expansion project worth INR 12,000 crore to boost steel capacity, by adding new range of value-added products. It targets to boost the capacity to 15 million metric tonnes by 2025. The focus is on expanding its footprints in the states, growing upstream and downstream. The second phase of the expansion works at Hazira plant will boost the capacity from 8.6 million tonnes to 15 million tonnes, he added.

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The company plans to invest in new cold rolling mill, galvanising plant, coated product and continuous annealing line, over the next two years. The investments are expected to transform it into a major producer of higher grade automotive steel products.

AMNS India plans to phase out Corex and switch to innovative technology which has low carbon footprint. The ultimate aim is to use hydrogen and renewable energy, the company said.