ArcelorMittal Nippon Steel India Commences Rs 60,000 Crore Expansion Project In Gujarat
The company is now a self-sustaining, free cash flow generating business, and well-positioned in a fast-growing market to deliver long-term value to its employees, and the Indian steel industry.
ArcelorMittal Nippon Steel India (AM/NS India) – a joint venture between ArcelorMittal and Nippon Steel, two of the world’s leading steelmakers – today conducted a groundbreaking ceremony to mark the commencement of a Rs 60,000-crore investment programme to increase production capacity of its Hazira plant in Gujarat, from 9 million tonnes per annum (MTPA) to c.15 MTPA.
The event was attended by Narendra Modi, Prime Minister of India; Bhupendra Patel, Chief Minister of Gujarat Government; Jyotiraditya Scindia, Union Steel Minister; Yasutoshi Nishimura, Minister of Economy, Trade and Industry, Japan; Kunihiko Kawazu, Minister & Deputy Chief of Mission, Embassy of Japan; C.R. Patil, Member of Parliament; Lakshmi Mittal, Executive Chairman, ArcelorMittal; Aditya Mittal, CEO, ArcelorMittal and Chairman, ArcelorMittal Nippon Steel India; Eiji Hashimoto, Representative Director and President, Nippon Steel Corporation; Takahiro Mori, Representative Director and Executive Vice President, Nippon Steel Corporation, and Member, Board of Directors, ArcelorMittal Nippon Steel India; and Dilip Oommen, CEO, ArcelorMittal Nippon Steel India.
This expansion at Hazira comes nearly three years after AM/NS India was established, and will involve upstream and downstream steelmaking expansion, creating more than 60,000 jobs and strengthening nearby communities with initiatives that deepen sustainability.
Since 2019, AM/NS India has made strong progress on performance and debottlenecking at Hazira plant by applying the global best practices of its parent companies and investing in technology and R&D.
The company is now a self-sustaining, free cash flow generating business, and well-positioned in a fast-growing market to deliver long-term value to its employees, communities, and the Indian steel industry.
As part of its expansion programme, AM/NS India will continue to contribute to the strengthening of India’s steelmaking expertise and capabilities, including the development of downstream facilities to produce value-added steels to reduce India’s reliance on steel imports for use in sectors such as defence, automotive and infrastructure.
Beyond volume growth and improving the quality and diversity of its steels, AM/NS India is also focused on efforts to lead the decarbonisation of the steel industry through initiatives such as integrating renewables into its energy supply chain and exploring the use of a range of lower-carbon technologies over the next decade.
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