India currently consumes around 3.2 million tonnes of coated steel every year, he told ET, adding that demand for this product from the value-added segment is growing at a faster pace than that of steel.
AM/NS India, India’s fourth largest steel producer, a joint venture between ArcelorMittal and Nippon Steel, has recently launched a brand of colour coated steel, a proprietary product of ArcelorMittal.
Coated steel products account for 20-25% of the total value-added products ecosystem, and AM/NS will produce around 700,000 tonnes of its ‘Optigal’ offering every year in India. It plans to increase this production to 1 million tonnes in the future, Dhar told ET.
These products will initially be manufactured at the company’s Pune unit, and will later be manufactured at other units as well, Dhar said.
AM/NS India is also looking at other products from both ArcelorMittal and Nippon Steel that can be launched in India. Products from both companies that are suitable for Indian markets will be launched on a regular basis in the future, Dhar said.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.