ArcelorMittal Nippon Steel (AM/NS) plans to raise its capacity in India to 30mn mt. Among the expansion projects, the steelmaker expects to commission its 12mn mt pellet plant in Q3 2021 ending September, taking the pellet making capacity to 20mn mt, according to the company’s Q2 results. The company has signed an MoU with the Odisha state government to set up a greenfield integrated steel plant with an annual capacity of 12mn mt. The company expects operations at the Sagasahi iron ore mine in Odisha to come on stream in Q3.
The company’s crude steel production in Q2 was up marginally from the prior-year quarter to 1.8mn mt, but largely unchanged from the preceding quarter. The company managed to tide over the second wave of COVID-19 and the resulting weak demand in the Indian domestic market by catering to a buoyant export market. Domestic demand, especially in the automotive, white goods and infrastructure sectors, started to gain momentum late in the quarter.