India’s ArcelorMittal Nippon Steel Limited (AMNS) has launched its ‘Magnelis’ branded special steel product known for corrosion-resistance and self-healing properties in the domestic market, a company statement said on Friday, September 20.
Magnelis, a patented brand owned by ArcelorMittal will be produced and marketed in India by AMNS, the statement said.
“Magnelis is the future of sustainable materials,” AMNS CEO Dilip Oommen said.
Magnelis is an alloy-coated steel featuring a unique blend of zinc, aluminum, and magnesium, providing exceptional corrosion-resistance and self-healing capabilities. Previously, this high-value steel was primarily imported from countries like South Korea, Japan and China, leading to lengthy delivery timelines, the company said.
AMNS India has invested nearly INR 10 billion ($119.70 million) to set up a production line for Magnelis, with an annual capacity of 500,000 mt per year at its Hazira steel mill plant in Gujarat.
The company aims to secure over 50 percent of the domestic market share for steel used in solar projects.
