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Nippon Steel, Japan’s largest steelmaker, has set an ambitious target to lift its global crude steel production capacity to 100 million metric tonnes per year or more by 2030. The company outlined the goal as part of its new medium- to long-term management plan, positioning scale and overseas growth as key drivers of future competitiveness.
A major pillar of this strategy is the recently completed $15 billion acquisition of U.S. Steel, which significantly increases Nippon Steel’s production base and presence in the North American market. The group has pledged around $11 billion in investment into U.S. Steel assets, with additional capital spending expected over time, to modernise facilities and enhance product mix.
Overall, Nippon Steel plans capital and business investments of about 6 trillion yen (~$38.5 billion) over the next five years and is targeting underlying business profit of at least 1 trillion yen under its 2030 plan. While domestic steel demand in Japan remains subdued, the company is banking on growth in markets such as the United States, India and Thailand to support its expansion and move closer to its 100-million-tonne capacity objective.
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