AMNS India to invest USD $1 billion in downstream industry

30 Sep 2022 CW Team

Aditya Mittal, the Chairman of the steel company based in Gujarat, announced that ArcelorMittal's subsidiary AMNS India will invest USD $ 1 billion in the downstream industry, particularly in the growth of its specialty steel portfolio. In addition, Mittal serves as CEO of parent firm ArcelorMittal, which owns 60% of AMNS India.

AMNS India in Hazira is well-positioned to take advantage of the growth opportunities provided by the local steel market, which has the potential to increase to 300 million tonne per year by 2030.

This meeting marked the first since the asset was acquired jointly by Luxembourg-based ArcelorMittal and Japan's Nippon Steel in December 2019.

In a presentation to investors and analysts, Mittal stated that AMNS India is committed to leading the decarbonisation of the Indian steel industry in addition to volume growth. AMNS India will increase its production of high grade specialty steels in key growth sectors like infrastructure and automotive, in line with India's national steel policy and significant policy initiatives like Atmanirbhar Bharat.

Also read:
Birla Estates acquires 10 acre land in Bengaluru for housing project
NAREDCO Maharashtra set to host India's first real estate property Expo

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..