ArcelorMittal and Nippon Steel India together launch Magnelis

19 Sep 2024 CW Team

ArcelorMittal Nippon Steel India (AMNS India), a joint venture between ArcelorMittal and Nippon Steel, announced the launch of Magnelis, a steel brand renowned globally for its corrosion resistance and self-healing properties. Magnelis, ArcelorMittal's patented brand, is now being produced in India, enhancing supply efficiency for key sectors like renewable energy and reducing the nation's reliance on imported specialty steel products.

Dilip Oommen , CEO, AMNS India highlighted that the launch of Magnelis aligns with India's Atmanirbhar Bharat initiative. By producing this high-performance steel domestically, the company aims to support India's clean energy transition and enhance the country's infrastructure. "Magnelis is the future of sustainable materials," Oommen added, emphasising its role in building infrastructure to global standards.

Magnelis is an alloy-coated steel featuring a unique blend of zinc, aluminum, and magnesium, providing exceptional corrosion resistance and self-healing capabilities. Previously, this high-value steel was primarily imported from countries like Korea, Japan, and China, leading to lengthy delivery times.

AMNS India has invested nearly Rs 10 billion to set up a production line for Magnelis, with an annual capacity of 5 lakh tonnes at its Hazira plant in Gujarat. The company aims to secure over 50% of the domestic market share for steel used in solar projects.

(Uniindia News Service)

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