ArcelorMittal Nippon Steel India reported 93 per cent increase in EBITDA at $195 million against $101 million on the back of better realisation and lower cost.
Sales were up 12 per cent at $1.62 billion ($1.45 billion). Sales volume also increased 6 per cent to 1.99 million tonne (1.88 mt).
Earlier, AMNS India announced plans to construct a greenfield integrated steel plant in Rajayyapeta, Andhra Pradesh, with a Phase 1 capacity of 8.2 MTPA and investment of $7.5–$8.0 billion over five to six years. The facility is designed as a low-cost, highly efficient coastal asset positioned to serve India’s fastest-growing steel-demand region.
The project leverages proven blast-furnace designs and execution experience from the Hazira expansion, benefits from proximity to high-quality iron ore and access to a deep-water port, and prioritizes early cash generation, with downstream capacity targeted for 1Q 2029 and primary steelmaking targeted in 2030/31.
The timelines assume all remaining approvals are received on schedule, including securing an appropriate long-term iron ore supply contract with NMDC. Commencement of this project follows completion of the Hazira capacity expansion project. Globally, ArcelorMittal reported EBITDA of $1.68 billion ($1.58 billion) with sales of $15.46 billion ($14.80 billion).
Aditya Mittal, Chief Executive Officer, ArcelorMittal said performance in the first quarter was resilient despite the unsettled backdrop in the West Asia reflects the benefits of global diversified asset portfolio.