Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
ArcelorMittal Nippon Steel to invest ₹2.6L Cr to expand capacity to 50 MTPA
Investment includes steel plants, ports, and sustainability upgrades
Move aligns with India's goal to become a global steel production leader
In a significant move for India's steel industry, ArcelorMittal Nippon Steel (AM/NS India) has revealed plans to invest ₹2.6 lakh crore to ramp up its domestic steel production capacity. The investment underscores the company’s long-term commitment to the Indian market and aligns with the government's vision of making India self-reliant in steel.
The expansion plan includes increasing the company’s steel-making capacity from the current 9.6 million tonnes per annum (MTPA) to around 50 MTPA over the next 10 years. This ambitious project will cover multiple greenfield and brownfield developments, including integrated steel plants, port infrastructure, and power facilities.
CEO Dilip Oommen stated that the move is aimed at catering to India’s growing infrastructure and automotive sectors, while also serving export markets efficiently. The company also aims to prioritize green technologies, ensuring lower emissions and enhanced energy efficiency throughout its operations.
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