Two blast furnaces to be built at the Hazira plant by mid-2026
AMNS India, an Indian joint venture between ArcelorMittal and Nippon Steel, is investing $5 billion to expand steel production capacity at its Hazira plant in Gujarat. Reuters reports about it with the reference to the Japanese steel company.
The move is aimed at meeting the growing demand for steel in India and increasing market share. AMNS India will build two blast furnaces and other facilities, which are scheduled to be operational by mid-2026.
It is planned that after the expansion, the volume of steel production at the Hazira plant will reach approximately 15 million tons per year.
As Takahiro Mori, executive vice president at Nippon Steel, noted, AMNS India is also considering building a new steel plant in eastern India. According to him, by 2030, AMNS India aims to expand production capacity to approximately 30 million tons per year.
“To secure a good presence, we want to win about 15% share in the Indian market where an annual crude steel output is expected to grow to around 200 million tons by 2030,” said Takahiro Mori.
Nippon Steel, the world’s fourth-largest steelmaker, also aims to increase its own steel production capacity to 100 million tons per year from the current 66 million tonnes.
The Indian Adani Group wants to enter the steel market due to the acquisition of RINL, which operates a steel plant with a capacity of 7.3 million tons per year in the city of Visakhapatnam. The conglomerate’s bids in the tender are expected to be more aggressive than other market players such as Tata Steel and JSW Steel.
As GMK Center reported earlier, the government of the Indian state of Odisha has approved 10 industrial projects, six of which are metallurgical. The total budget of projects amounted to 74.62 thousand crore rupees (about $9 billion). It is planned to create more than 24,000 jobs due to the implementation of projects in the state.