Nippon Steel &Arcelor Mittal to Invest $5 Bn to Boost Steel Production
An Indian joint venture of Arcelor Mittal and Nippon Steel will invest 410 bn rupees ($5 bn) to boost crude steel output capacity by 6 mn tonnes a year at its Hazira plant, the Japanese firm said. Their joint venture, AM/NS India, will build two blast furnaces, along with other facilities, in its Hazira plant in western India, with plans to start operations by early 2026. The expansion is aimed at meeting growing steel demand in India and winning a bigger slice of the market. The annual steel output capacity of the Hazira plant will increase to around 15 mn tonnes after the expansion. Takahiro Mori, Executive Vice President at Nippon Steel, said that it plans to almost double crude steel output capacity at the Hazira plant to secure more of the growing market.
Tags : Indian joint venture Arcelor Mittal Nippon Steel invest boost crude steel Hazira plant Japanese firm Takahiro Mori Executive Vice President Nippon Steel