• Skip to main content

    CRU

    January 12, 2024

    CRU: AM/NS India sets sights on having world’s largest steel works

    Written by CRU Americas

    The ArcelorMittal Nippon Steel India (AM/NS India) joint venture (JV) aims to have 24 Mt/y of crude steel capacity by 2029, making the Hazira works in Gujarat the planet’s largest single-site integrated steel complex, says ArcelorMittal chairman Lakshmi Mittal.

    A first-phase expansion to 15 Mt/y of crude steel capacity is on schedule to be finished by 2026 and, with a memorandum of understanding (MoU) already signed with the Gujarat state government, the second phase will be completed by 2029, he said at an industry conference.

    Announced in October 2022, the first phase has a capex of around INR600 bn ($7.22 bn, €6.60 bn). Among the enlarged plant’s features will be a wider product mix.

    Mittal was reported as telling conference delegates the Hazira expansion is in line with government policy of encouraging industrial growth, adding that ArcelorMittal is also investing in renewable energy and green hydrogen.

    This article was first published by CRU. Learn more about CRU’s services at www.crugroup.com/analysis.

    CRU Americas

    Read more from CRU Americas

    Latest in CRU

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.