ArcelorMittal announced it 60% JV AMNS India’s crude steel production on 100% basis in April-June quarter of 2022 decreased by 3.6% YoY to 1.668 million tonnes as compared to Q2 of 2021 on account of maintenance. Steel shipments in Q2 of 2022 declined by 12% to 1.511 million tonne on account of lower production as well as lower demand and AMNS India’s EBIDTA on 100% basis declined by 40% YoY to USD 365 million due to lower shipments and lower pellet contribution following the introduction of the export duty during the quarter.ArcelorMittal said that AMNS India debottlenecking underway and further expansion is planned. Plans to debottleneck existing operations (steel shop & rolling parts) and achieve 8.8 million tonne capacity by end of 2023 underwayAMNS Hazira facility expansion to at least 14.4 million tonne in advance preparation with ground breaking for CRM2 complex of 2 million tonne PLTCM, 0.5 million tonne galvanizing line & 1 million tonne Galvanizing and Annealing line is slated for March 2022)
ArcelorMittal announced it 60% JV AMNS India’s crude steel production on 100% basis in April-June quarter of 2022 decreased by 3.6% YoY to 1.668 million tonnes as compared to Q2 of 2021 on account of maintenance. Steel shipments in Q2 of 2022 declined by 12% to 1.511 million tonne on account of lower production as well as lower demand and AMNS India’s EBIDTA on 100% basis declined by 40% YoY to USD 365 million due to lower shipments and lower pellet contribution following the introduction of the export duty during the quarter.ArcelorMittal said that AMNS India debottlenecking underway and further expansion is planned. Plans to debottleneck existing operations (steel shop & rolling parts) and achieve 8.8 million tonne capacity by end of 2023 underwayAMNS Hazira facility expansion to at least 14.4 million tonne in advance preparation with ground breaking for CRM2 complex of 2 million tonne PLTCM, 0.5 million tonne galvanizing line & 1 million tonne Galvanizing and Annealing line is slated for March 2022)
