ArcelorMittal Nippon Steel in Rs 60K-cr Capex Plan

Mumbai: ArcelorMittal Nippon Steel (AM/NS) India has announced a Rs60,000 crore investment plan to expand capacity, enhance scrap processing, and scale up renewable energy use as part of the drive to qualify for the three-star rating under the government’s new carbon emission standards, company officials said.

ArcelorMittal Nippon Steel India CEO Dilip Oommen said: “As India pursues its decarbonisation goals toward net-zero emissions by 2070, it has pioneered the world’s first green steel taxonomy.

This landmark initiative provides a clear roadmap for the steel industry to transition towards sustainable practices. AM/NS India stands firmly aligned with this vision, and the initiatives we have undertaken give us confidence that we will be ready when this taxonomy is implemented.”