India’s ArcelorMittal Nippon Steel Limited (AMNS) will invest $129 million to expand the capacity of its pellet plant in the southern Indian state of Andhra Pradesh, a company statement said on Wednesday, May 25.
At a time when most Indian steel companies have announced reviews of planned capital expenditure in the wake of the government’s imposition of 15 percent export tax, AMNS said that it would invest in expanding the capacity of its pellet plant to 15 million mt per year, from 8 million mt per year at present.
The company said that the expansion project will be completed in 2023 subject to receiving environmental clearances.
