The logos of Nippon Steel Corp. are displayed at the headquarters of the company in Tokyo.
TOKYO Reuters - An Indian joint venture between ArcelorMittal and Nippon Steel is going to invest $5 billion to boost crude steel output capacity by 6 million tones a year at its Hazira plant, the Japanese firm said on Wednesday.
AM NS India plans to start operations by early 2026 with plans to build two blast furnaces, along with other facilities, in its Hazira plant in western India.
After the expansion, the annual steel output capacity of the Hazira plant will increase to around 15 million tons.
Takahiro Mori, executive vice president at Nippon Steel, told Reuters last week that it plans to double crude steel output capacity at the Hazira plant in order to secure more of the growing market.