Steel maker AMNS India looking to foray into domestic renewable market

Steel maker AMNS India is looking to enter the domestic green energy market, the company's CEO Dilip Oommen said on Friday.

AMNS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two foreign entities completed the acquisition of Essar Steel Limited plant located at Hazira in Gujarat, and later renamed it as ArcelorMIttal Nippon Steel (AMNS) India.

AMNS India is exploring opportunities in the Indian renewable energy market, Oommen said.

Without sharing any further details, he said the business plan is being worked on at present.

In August, Lakshmi Mittal, the executive chairman of the parent firm ArcelorMittal along with Oommen had met the then Gujarat chief minister Vijay Rupani.

During the meeting, Mittal had committed an investment of Rs 1 lakh crore in the state, of which Rs 50,000 crore was to be utilised to expand capacity of Hazira plant and the remaining Rs 50,000 crore in the field of hydrogen gas and renewable energy.

AMNS India is an integrated flat carbon steel manufacturer with an achievable crude steel capacity of 9 million tonnes per annum (MTPA).