The planned expansion of the Hazira facility comes almost three years since the asset was acquired and renamed AM/NS India. Since then, AM/NS India has made strong progress on performance and debottlenecking at Hazira by applying the global best practices of its parent companies and investing in technology and R&D. The company is now a self-sustaining, free cash-flow generating business, strongly positioned in a rising market to deliver long-term value to its employees, its communities, the Indian steel industry, and its shareholders.
Hazira’s planned expansion reflects ArcelorMittal and Nippon Steel’s confidence in the long-term prospects for the Indian economy, which is forecast to grow strongly for the next two decades. Addressing the group of ArcelorMittal’s investors and analysts, Aditya Mittal cited as strengths the scale, strategic location, and secure supply chain that make AM/NS India well-positioned to capture the growth opportunities presented by a domestic steel market which has the potential to grow to 300 million tonnes per annum by 2030. In addition to volume growth, AM/NS India will also increase its production of high grade speciality steels in key growth sectors such as automotive and infrastructure, aligned with India’s national steel policy and key policy initiatives such as Atmanirbhar Bharat.