Nippon Steels’ Indian JV ArcelorMittal to invest Rs 410 billion

Nippon Steel, a Japanese company, announced y that an Indian joint venture between ArcelorMittal and Nippon Steel will invest Rs 410 billion to increase the capacity of its Hazira plant's production of crude steel by 6 million tonnes annually. Their joint venture, AM/NS India, expects to open its Hazira factory in western India by the beginning of 2026. It will construct two blast furnaces as well as other facilities there. The development aims to fulfil India's rising steel demand and capture a larger market share. After the expansion, the Hazira plant's annual steel production capacity will reach over 15 million tonne. Also read: KEI has been powering requirements across a wide spectrum of sectors Shyam steel readies to reach 1 million tonne by April 2023