Arcelor Mittal-Nippon JV to grow 3x by 2030

Planned investments of ₹60,000 crore underscores its expansion strategy

- Dipali Banka & Nehal Chaliawala

ArcelorMittal Nippon Steel India plans to expand capacity to 25-26 mtpa.

(BLOOMBERG)

ArcelorMittal Nippon Steel India Ltd (AMNS India) has set an ambitious expansion roadmap for the rest of the decade, targeting 25-26 million tonnes of steelmaking capacity by 2030, its chief executive Dilip Oommen said in an interview.

“By 2030, we will have at least 25-26 million tonnes. It could be a little more or less. It’s simple math: Hazira plus Rajayapeta,” he said. The 60:40 joint venture between Lakshmi Mittal-led ArcelorMittal and Japan’s Nippon Steel, which has a capacity of about 9 million tonnes per annum (mtpa), will ramp up capacity at its Hazira plant near Surat, Gujarat, to 15 mtpa by next year and 18 mtpa thereafter. It is also investing in an 8.2 mtpa greenfield plant at Rajayyapeta in Anakapalli district, Andhra Pradesh.