ArcelorMittal Nippon Steel India (AM/NS), plans to achieve a capacity of 8.6mn mt in the near term from its existing operations through debottlenecking. In the medium term, the company aims to increase the capacity of its Hazira Complex to 14mn mt, according to AM/NS quarterly results. It also states that its pellet plant at Paradeep, Orissa, with 6mn mt capacity will shortly begin operations.
In Q1 2021 ending March, the company produced 1.81mn mt of crude steel, up from 1.7mn mt in the prior-year quarter. The company’s EBITDA registered a growth of 188pc to $403mn in the period. AM/NS CEO Dilip Oommen believes business will continue to grow on strong domestic and export demand.