ArcelorMittal Nippon Steel (AM/NS) India plans to invest USD 30 bln over the next decade to expand its steel production capacity more than fourfold, reaching around 40 mln tons per annum, a senior official said.
As part of the phase-one expansion, capacity will rise from the current 9.6 mln tons to 15.6 mln tons per annum by FY27. Ranjan Dhar, Director and Vice President of Sales and Marketing at AM/NS India, noted that 70pct of this capacity will meet the three-star green steel rating.
India’s steel ministry introduced a green steel classification system in December last year, defining green steel as that with emissions below 2.2 tons of CO2 per ton of finished steel. The star rating system categorizes emission intensity: five-star for emissions below 1.6 t-CO2/tfs, four-star between 1.6 and 2.0, and three-star between 2.0 and 2.2.
Dhar also urged the government to consider protective measures for the domestic steel sector following the U.S. decision to impose a 25pct tariff on steel and aluminum imports.