$7.4 billion to be invested by AMNS India for capacity expansion

08 May 2023 CW Team

To meet the rising demand from autos, AMNS India would also invest $1 billion for downstream facilities at its factory in Hazira, Gujarat. In a post-quarterly results update to investors, the business revealed that it is also constructing slurry pipelines to link its mines to its beneficiation facilities in Thakurani and Sagasahi as well as the beneficiation of ore in Odisha. The company's crude steel production during the March quarter increased by over 9% sequentially to 1.76 million tonnes, while quarterly shipments increased by 15% to 1.83 million tonnes. Both output and sales increased year over year, with production up by 2% and sales approximately 6%, respectively.

With the aid of higher sales volumes, better steel prices, and lower costs, particularly energy costs, AMNS India's earnings before interest, tax, depreciation, and amortisation more than doubled to $341 million in the March quarter from the $162 million it made in the December quarter. However, due to this year's reduced steel prices, the operating profit was lower than it was previous year.

ArcelorMittal stated earlier this year that it anticipates strong sales in India in 2023, with an apparent increase in steel consumption of between 6 and 8%. The business anticipates a 1-2% increase in global demand in 2023, excluding China. ArcelorMittal and the Greenko Group have a strategic cooperation to create a 975 mw renewable energy plant in India for an investment of $600 million.

According to the company's announcement, AMNS India intends to invest $7.4 billion in capacity expansion, value-added capability growth, and improvements to its iron ore production capabilities. At its factory in Hazira, AMNS India, a joint venture between the two largest steel producers in the world, ArcelorMittal and Nippon Steel, can presently manufacture 9 million tonnes of steel annually. With its expenditures, the Hazira plant's upstream capacity will be increased to 15 million tonne by the beginning of 2026. In order to finance this development, AMNS Luxembourg Holding, the parent company of AMNS India, recently signed a $5 billion credit arrangement with a group of Japanese banks. To meet the rising demand from autos, AMNS India would also invest $1 billion for downstream facilities at its factory in Hazira, Gujarat. In a post-quarterly results update to investors, the business revealed that it is also constructing slurry pipelines to link its mines to its beneficiation facilities in Thakurani and Sagasahi as well as the beneficiation of ore in Odisha. The company's crude steel production during the March quarter increased by over 9% sequentially to 1.76 million tonnes, while quarterly shipments increased by 15% to 1.83 million tonnes. Both output and sales increased year over year, with production up by 2% and sales approximately 6%, respectively. With the aid of higher sales volumes, better steel prices, and lower costs, particularly energy costs, AMNS India's earnings before interest, tax, depreciation, and amortisation more than doubled to $341 million in the March quarter from the $162 million it made in the December quarter. However, due to this year's reduced steel prices, the operating profit was lower than it was previous year. ArcelorMittal stated earlier this year that it anticipates strong sales in India in 2023, with an apparent increase in steel consumption of between 6 and 8%. The business anticipates a 1-2% increase in global demand in 2023, excluding China. ArcelorMittal and the Greenko Group have a strategic cooperation to create a 975 mw renewable energy plant in India for an investment of $600 million.

Infrastructure Transport

09 Jan 2026

India Becomes First to Produce Bio-Bitumen for Roads

India has become the first country in the world to commercially produce bio-bitumen for use in road construction, according to Road, Transport and Highways Minister Nitin Gadkari. Bitumen, a black and viscous hydrocarbon derived from crude oil, is a key binding material in road building, and the bio-based alternative is expected to significantly improve the sector’s environmental footprint.Addressing the CSIR Technology Transfer Ceremony in New Delhi, Mr Gadkari congratulated Council of Scientific and Industrial Research on achieving the milestone, noting that the initiative would help curb ..

Infrastructure Urban

09 Jan 2026

HILT Policy Seen Boosting Telangana Revenue Sharply

The Hyderabad Industrial Land Transformation (HILT) Policy is expected to generate around Rs 1.08 billion in revenue for the Telangana state exchequer, according to Deputy Chief Minister Bhatti Vikramarka Mallu. Speaking in the Telangana Legislative Assembly, he said the policy would be implemented within a six-month timeframe in a transparent manner, with uniform rules applicable to all stakeholders. Mr Vikramarka noted that without the HILT Policy, the state would have earned only about Rs 1.2 million per acre. Under the new framework, however, revenue is projected to rise sharply to Rs 70 ..

Infrastructure Urban

09 Jan 2026

India Post, MoRD Tie Up to Boost Rural Inclusion

The Department of Posts and the Ministry of Rural Development have signed a Memorandum of Understanding to accelerate rural transformation and expand financial, digital and logistics services for Self-Help Groups (SHGs) and rural households across India. The agreement was signed in the presence of Union Minister of Communications and Development of North Eastern Region Jyotiraditya M. Scindia and Union Minister of Rural Development and Agriculture and Farmers’ Welfare Shivraj Singh Chouhan. The collaboration aligns with the government’s “Dak Sewa, Jan Sewa” vision and seeks to repositi..