AM/NS invests Rs.60,000+cr on Hazira plant’s capacity expansion
A strong steel sector leads to a robust infrastructure sector and steel has a massive contribution in developments of roads, railways, airport, ports, construction, automotive, capital goods, and engineering products.
Underlining this outlook for the steel sector, Prime Minister Narendra Modi said, “There is immense potential for development in this industry.”
He listed measures to further promote the Indian steel industry, pointing out that the PLI scheme has created new avenues of its growth.
He also appreciated that the expansion of ArcelorMittal Nippon Steel India (AM/NS India) Hazira plant, noting that a totally new technology is coming to India which will be a huge help in the electric vehicle, automobile and other manufacturing sectors.
“I am sure that this project of ArcelorMittal Nippon Steel India will prove to be a milestone in the vision of Make in India. This will give new strength to our efforts for a developed India and self-reliant India in the steel sector,” the Prime Minister said in a video message on 28 Oct 2022 to the start of capacity expansion at the plant.
Referring to the world’s expectations from India, the Prime Minister said that India is rapidly moving towards becoming the world’s largest manufacturing hub and the government is actively engaged in creating the necessary policy environment for the development of this sector.
India currently produces 154 million tonnes of crude steel a year while the Government has set a target to have 300 million tonnes capacity in the next 9-10 years. fiinews.com
