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AMNS India Plans to Invest $7.4bn on Capacity Expansion

AMNS India, a joint venture (JV) between ArcelorMittal and Nippon Steel, plans to spend USD 7.4 billion towards augmenting both the upstream and downstream capacities of the plant at Hazira in Gujarat to 15 million tonne by early 2026. To fund the expansion, the parent company of AMNS India, Luxembourg Holding, recently entered into a USD five-billion loan agreement with a consortium of Japanese banks.

 

AMNS India will also invest USD one billion in downstream facilities at its plant in Hazira in Gujarat, through which it will fulfil the supply to the automobile sector. In a move to further enhance its iron ore capabilities, the company is also setting up slurry pipelines to connect its mines to its beneficiation plants in Thakurani and Sagasahi in Odisha.

 

AMNS India currently boasts of nine million tonne of steel annual capacity at its plant in Hazira.

 

The company witnessed higher production and sales from last year on the back of higher sales volumes, pricing of steel and lower costs.

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