ArcelorMittal S.A.: ArcelorMittal holds investor meeting in India, highlighting the quality, capability and ambition of its Indian steelmaking joint venture
September 27 2022 - 7:30AM
ArcelorMittal S.A.: ArcelorMittal holds investor meeting in India,
highlighting the quality, capability and ambition of its Indian
steelmaking joint venture
Event
emphasises strong recent progress
at AM/NS India and the
scope of work being undertaken to
further strengthen and
grow the business
27 September
2022,
14:30
CET
ArcelorMittal, the world’s leading steel and mining company,
today hosted an investor and analyst event at AM/NS India’s
flagship plant at Hazira, Gujarat, the first such meeting since
ArcelorMittal and Nippon Steel jointly acquired the Indian asset in
December 2019.
The event focused on the progress AM/NS India has achieved since
the acquisition completed and the strategic initiatives being
undertaken to transform AM/NS India into a best-in-class,
integrated steel producer capable of producing high-added value
products, grow its domestic market share and play a leading role in
the growth of the Indian steel industry.
Presentations given by Aditya Mittal, ArcelorMittal CEO and
Chairman of AM/NS India and members of the AM/NS India management
committee, focussed on:
- AM/NS India’s commitment to
reaching levels of industry excellence in all aspects of ESG
performance, with a specific focus on health and safety, diversity
and inclusion and decarbonisation.
- The scope and scale of AM/NS
India’s steelmaking business and its leading position in the Indian
steel industry.
- The improvement achieved in AM/NS
India’s financial and operational performance since acquisition,
with significant growth in its steel production and Ebitda
generation, and strong progress in reducing net debt and
strengthening its balance sheet.
- Efforts to secure the company’s
supply chain and enhance profitability through several strategic
acquisitions of a range of assets including slurry pipelines, iron
ore mines, ports, power plants and land.
- How AM/NS India intends to lead the
decarbonisation of the Indian steel industry by integrating
renewables into its energy supply chain and exploring the use of a
range of decarbonisation technologies over the next decade.
- The significant market growth
opportunity India presents and AM/NS India’s strategy to play a
leading role in the development of the Indian steel industry by
expanding the capacity of its Hazira plant, initially to c. 15
million tonnes by early 2026 in the first phase of its
expansion.
The planned expansion of the Hazira facility comes almost three
years since the asset was acquired and renamed AM/NS India. Since
then, AM/NS India has made strong progress on performance and
debottlenecking at Hazira by applying the global best practices of
its parent companies and investing in technology and R&D. The
company is now a self-sustaining, free cash-flow generating
business, strongly positioned in a rising market to deliver
long-term value to its employees, its communities, the Indian steel
industry, and its shareholders.
Hazira’s planned expansion reflects ArcelorMittal and Nippon
Steel’s confidence in the long-term prospects for the Indian
economy, which is forecast to grow strongly for the next two
decades. Addressing the group of ArcelorMittal’s investors and
analysts, Aditya Mittal cited as strengths the scale, strategic
location, and secure supply chain that make AM/NS India
well-positioned to capture the growth opportunities presented by a
domestic steel market which has the potential to grow to 300
million tonnes per annum by 2030. In addition to volume growth,
AM/NS India is focussed on leading the decarbonisation of the
Indian steel industry and will also increase its production of high
grade, speciality steels in key growth sectors such as automotive
and infrastructure, aligned with India’s national steel policy and
key policy initiatives such as Atmanirbhar Bharat.
Copies of the presentations used during today’s meeting can be
found on the company’s website:
https://corporate.arcelormittal.com/investors/equity-investors/shareholders-events/am-ns-india-investor-visit
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel
company, with a presence in 60 countries and primary steelmaking
facilities in 16 countries. In 2021, ArcelorMittal had revenues of
$76.6 billion and crude steel production of 69.1 million metric
tonnes, while iron ore production reached 50.9 million metric
tonnes.
Our purpose is to produce ever smarter steels
that have a positive benefit for people and planet. Steels made
using innovative processes which use less energy, emit
significantly less carbon and reduce costs. Steels that are
cleaner, stronger and reusable. Steels for electric vehicles and
renewable energy infrastructure that will support societies as they
transform through this century. With steel at our core, our
inventive people and an entrepreneurial culture at heart, we will
support the world in making that change. This is what we believe it
takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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