AMNS India to Increase Finished Steel Volumes to 8.5 Million Tonnes by 2024
ArcelorMittal in its Annual Report for 2019 said that “The Resolution Plan also includes a capital expenditure plan of INR 18.697 crore to be implemented in two stages over six years. The first stage involves investments to increase the production of finished steel goods sustainably to 6.5 million tonnes per annum and includes completion of ongoing capital expenditure projects with respect to a coke oven, second sinter plant, third line CSP caster. Paradeep pellet plant and Dabuna beneficiation plant. The first stage will also include investment in maintenance to restore current assets, the implementation of an environmental management plan and the implementation of ArcelorMittal’s best practices on raw material sourcing, plant operations, sales and product mix (in particular through greater sophistication of the quality and markets of the steel produced with a focus on developing sales to the automotive industry), people management and health & safety. The second stage will involve investments to increase the production of finished steel goods from 6.5 million tonnes per annum to 8.5 million tonnes per annum by the end of 2024, including asset reconfiguration and the addition of a coke oven, blast furnace and basic oven furnace.
It added “There is also a long-term aspiration to increase finished steel shipments to between 12 and 15 million tonnes tonnes through the addition of new iron and steelmaking assets, so that AMNS India can play an active role and fully benefit from the anticipated growth in the Indian steel industry.”
Source : Strategic Research Institute