Aditya Mittal, chief executive officer, ArcelorMittal, and chairman AM/NS India
ArcelorMittal Nippon Steel India (AM/NS India) on Friday kicked off a Rs 60,000-crore project expansion at Gujarat’s Hazira and indicated further investment in the future.
Addressing the ground-breaking ceremony, ArcelorMittal Chief Executive Officer and AM/NS India Chairman Aditya Mittal said: “We have invested almost Rs 90,000 crore and have made tremendous progress across many dimensions ensuring the facility is world class, operating safely at full capacity and producing even more quality products.”
The major expansion comes almost three years after global steelmakers — ArcelorMittal and Nippon Steel – jointly acquired Essar Steel (renamed AM/NS India) under India’s insolvency law. ArcelorMittal has a 60 per cent equity interest in the venture.
First Published: Oct 28 2022 | 7:51 PM IST