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.
