AMNS India to invest USD $1 billion in downstream industry
Real Estate

AMNS India to invest USD $1 billion in downstream industry

Aditya Mittal, the Chairman of the steel company based in Gujarat, announced that ArcelorMittal's subsidiary AMNS India will invest USD $ 1 billion in the downstream industry, particularly in the growth of its specialty steel portfolio. In addition, Mittal serves as CEO of parent firm ArcelorMittal, which owns 60% of AMNS India.

AMNS India in Hazira is well-positioned to take advantage of the growth opportunities provided by the local steel market, which has the potential to increase to 300 million tonne per year by 2030.

This meeting marked the first since the asset was acquired jointly by Luxembourg-based ArcelorMittal and Japan's Nippon Steel in December 2019.

In a presentation to investors and analysts, Mittal stated that AMNS India is committed to leading the decarbonisation of the Indian steel industry in addition to volume growth. AMNS India will increase its production of high grade specialty steels in key growth sectors like infrastructure and automotive, in line with India's national steel policy and significant policy initiatives like Atmanirbhar Bharat.

Also read:
Birla Estates acquires 10 acre land in Bengaluru for housing project
NAREDCO Maharashtra set to host India's first real estate property Expo


Aditya Mittal, the Chairman of the steel company based in Gujarat, announced that ArcelorMittal's subsidiary AMNS India will invest USD $ 1 billion in the downstream industry, particularly in the growth of its specialty steel portfolio. In addition, Mittal serves as CEO of parent firm ArcelorMittal, which owns 60% of AMNS India. AMNS India in Hazira is well-positioned to take advantage of the growth opportunities provided by the local steel market, which has the potential to increase to 300 million tonne per year by 2030. This meeting marked the first since the asset was acquired jointly by Luxembourg-based ArcelorMittal and Japan's Nippon Steel in December 2019. In a presentation to investors and analysts, Mittal stated that AMNS India is committed to leading the decarbonisation of the Indian steel industry in addition to volume growth. AMNS India will increase its production of high grade specialty steels in key growth sectors like infrastructure and automotive, in line with India's national steel policy and significant policy initiatives like Atmanirbhar Bharat. Also read: Birla Estates acquires 10 acre land in Bengaluru for housing project NAREDCO Maharashtra set to host India's first real estate property Expo

Next Story
Real Estate

Kerala HC Orders Demolition, Reconstruction of Chanderkunj Army Towers

The Kerala High Court has ordered the demolition and reconstruction of Towers B and C of the Chanderkunj Army Towers at Silver Sand Island, Vyttila, citing severe structural distress. The verdict follows a prolonged legal battle over the poor quality of construction, despite the Army Welfare Housing Organisation (AWHO) arguing for retrofitting instead of demolition. Justice CP Mohammed Nias ruled that the demolition was necessary to prevent casualties and safeguard residents. The court directed the district collector to form a committee comprising an experienced structural engineer, two r..

Next Story
Infrastructure Urban

Nitish Kumar Unveils Rs 13.28 Billion Projects in Bhagalpur

Chief Minister Nitish Kumar inaugurated 146 development projects worth Rs 13.28 billion during his ‘Pragati Yatra’, urging officials to accelerate the region’s progress. The projects span multiple sectors, including 18 smart city initiatives, six schemes for the building department, 32 for rural development, and several others covering road construction, health, and SC/ST welfare. Additionally, Kumar laid the foundation stone for 63 new projects, with 35 dedicated to rural development. During his visit, he launched key initiatives at Bihar Agricultural University in Sabour, inc..

Next Story
Infrastructure Transport

Indian Railways Upgrades 23,000 Track Kilometres for 130 kmph Speed

Indian Railways has upgraded over 23,000 track kilometres (TKM) to support speeds of up to 130 kmph, marking a significant milestone in its modernisation efforts. This initiative enhances connectivity, reduces travel time, and strengthens safety measures through advanced signalling and fencing systems. Key sections of the Golden Quadrilateral and Golden Diagonal networks—critical corridors linking major cities—are now equipped for higher speeds, improving passenger and freight movement. Additionally, 54,337 TKM of tracks have been upgraded for speeds up to 110 kmph, further boosting n..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?