AMNS plans to invest Rs 1 trillion in India to expand operations

28 Oct 2021 CW Team

ArcelorMittal Nippon Steel (AMNS) plans to invest about Rs 1 trillion over the next 10 years to expand its operations in India.

In December 2019, ArcelorMittal paid Rs 42,000 crore for Essar Steel India Limited, one of the country's largest stressed-asset transactions. The company then partnered with Nippon Steel, the world's third-largest steelmaker. AMNS India, an integrated flat steel producer with its main facility in Hazira, Gujarat, is the top steel producer in Western India.

The company has signed a preliminary agreement with the Odisha government to construct a 12 mt steel mill.

India's current capacity is 143.91 mt, and increasing it is seen as critical to the country's self-sufficiency plans.

Steel demand is expected to rise in the country as the government pushes to build infrastructures such as new roads, airports, and railway stations.

As part of its sustainability efforts, AMNS India is diversifying into renewable energy, such as solar and hybrid power.

To produce greener steel, the company's power portfolio includes a significant amount of renewable energy. This also entails increasing energy efficiency, lowering energy consumption, and significantly lowering energy intensity by improving operational efficiency and reusing and recycling steel by-products.

Oommen told the media that since 2015, AMNS India has cut its Carbon dioxide emissions per tonne by 35%.

The firm also wants to have its logistics support in the form of jetties.

The company already has a presence in the power sector, having purchased the Bhander power plant in Hazira, Gujarat, from Edelweiss Asset Reconstruction Co. in March 2020. Bhander is a 500 MW natural gas-fired thermal power plant that will be completely reliant on AMNS India's Hazira operations. It bought Essar Power Odisha, another Essar Steel captive power plant, in January.

The company plans to participate in mine auctions to secure its raw material requirements. To meet its immediate needs, it already has two iron ore mines in Odisha, Thakurani and Sagasahi.

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Also read: ArcelorMittal Nippon Steel to expand by five mt in three years

ArcelorMittal Nippon Steel (AMNS) plans to invest about Rs 1 trillion over the next 10 years to expand its operations in India. In December 2019, ArcelorMittal paid Rs 42,000 crore for Essar Steel India Limited, one of the country's largest stressed-asset transactions. The company then partnered with Nippon Steel, the world's third-largest steelmaker. AMNS India, an integrated flat steel producer with its main facility in Hazira, Gujarat, is the top steel producer in Western India. The company has signed a preliminary agreement with the Odisha government to construct a 12 mt steel mill. India's current capacity is 143.91 mt, and increasing it is seen as critical to the country's self-sufficiency plans. Steel demand is expected to rise in the country as the government pushes to build infrastructures such as new roads, airports, and railway stations. As part of its sustainability efforts, AMNS India is diversifying into renewable energy, such as solar and hybrid power. To produce greener steel, the company's power portfolio includes a significant amount of renewable energy. This also entails increasing energy efficiency, lowering energy consumption, and significantly lowering energy intensity by improving operational efficiency and reusing and recycling steel by-products. Oommen told the media that since 2015, AMNS India has cut its Carbon dioxide emissions per tonne by 35%. The firm also wants to have its logistics support in the form of jetties. The company already has a presence in the power sector, having purchased the Bhander power plant in Hazira, Gujarat, from Edelweiss Asset Reconstruction Co. in March 2020. Bhander is a 500 MW natural gas-fired thermal power plant that will be completely reliant on AMNS India's Hazira operations. It bought Essar Power Odisha, another Essar Steel captive power plant, in January. The company plans to participate in mine auctions to secure its raw material requirements. To meet its immediate needs, it already has two iron ore mines in Odisha, Thakurani and Sagasahi. Image Source Also read: ArcelorMittal Nippon Steel to expand by five mt in three years