ArcelorMittal Nippon Steel India commences Rs 60,000 crore expansion project in Gujarat

Photo: ArcelorMittal Nippon Steel India

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.

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.

Addressing the groundbreaking ceremony as the Chief Guest, Shri Narendra Modi, Prime Minister  of India, said: “My best wishes to AM/NS India for the Hazira expansion, which will open doors for  new possibilities in the future with the investment of Rs 60,000 crore. This project will create job  opportunities in Gujarat and across India, apart from inspiring the manufacturing of high-grade steel  while playing a critical role in reducing import dependence in critical and strategic applications. The  company’s latest technology for this project will prove to be a milestone and provide a fillip to the  Make in India and Atmanirbhar Bharat initiatives. I also congratulate AM/NS India for giving utmost  importance to green technology to contribute to the circular economy.”