ArcelorMittal and Nippon Steel's joint venture, AMNS India, will invest $7.4bn in capacity expansion and increased value-added capabilities. The investment includes increasing the Hazira-based plant's upstream capacity to 15 million tonnes by 2026, alongside increased downstream facilities costing $1bn to meet rising demand from automobiles. The 9 million-tonne-per-year capacity plant will also establish slurry pipelines to link its mines with its beneficiation plants. AMNS India's Q1 sales increased by nearly 6% while crude steel production rose by 9%, and earning before interest, tax, depreciation and amortisation more than doubled year on year.
