ArcelorMittal JV and NSIC to Boost Steel Delivery to MSMEs

SEATTLE (Scrap Monster): AM/NS India- the joint venture project between ArcelorMittal and Nippon Steel announced that it has signed a Memorandum of Understanding (MoU) with the National Small Industries Corporation (NSIC) to boost steel purchases for Micro, Small & Medium Enterprises (MSME). It also aims to accelerate the distribution of steel products to MSME hubs.

The two partners will launch a new network, which will focus on delivering critical products to MSME sector, which has been badly impacted by various factors including Covid-19 impacts. AM/NS India will utilize its network of Hypermarts, Steel Processing Centres and e-Sales in support of the initiative. Apart from infrastructure and marketing support, NSIC will provide necessary financial support to market steel products to relevant markets, the press release by AM/NS India stated.

The initiative will help MSME customers to avail of special pricing depending on prevailing market conditions, which in turn will support and revive the hard-hit MSMEs to expand their customer base.

This is the first such agreement signed by NSIC with a leading private steel producer. The agreement is expected to be a game changer for the MSME segment.

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