AMNS plans to invest Rs 1 trillion in India to expand operations

ArcelorMittal Nippon Steel (AMNS) plans to invest approximately Rs 1 trillion over the next 10 years to expand its business in India.

In December 2019, ArcelorMittal paid Rs 42,000 crore for Essar Steel India Limited, one of the largest stress asset deals in the country. The company then partnered with Nippon Steel, the world's third largest steel producer. AMNS India, an integrated flat steel producer headquartered in Hazira, Gujarat, is the largest steel producer in Western India.

The company has signed a preliminary agreement with the government of Odisha to build a 12-ton steel plant.

India's current capacity is 143.91 mt, and increasing it is considered crucial to the country's self-sufficiency plans.

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