Eiji Hashimoto, CEO of Nippon Steel, has announced expansion plans during an interview with Japanese newspaper The Yomiuri Shimbun, including doubling crude steel production in the United States over the next three to five years.
This initiative will center around the modernization of US Steel, recently acquired by Nippon Steel, which currently produces 11 million metric mt of crude steel per year and holds approximately a 15 percent market share in the US.
$11 billion investment to modernize US Steel facilities
Hashimoto detailed an investment plan totaling $11 billion by 2028 to modernize aging US Steel facilities. Key upgrades include the introduction of advanced steelmaking technologies and the expansion of product range, especially high-performance steel such as electrical steel sheets. “Through our new investments, we will expand capacity, broaden our production offerings and double production,” Hashimoto said.
Global strategy: From the US to India and Thailand
To meet its global expansion goal of 100 million mt in annual crude steel production, up from 58 million mt, Nippon Steel is also accelerating projects in:
| Country | Key actions |
| India | Adding 15 million mt via ArcelorMittal Nippon Steel, develop a mega steel plant |
| Thailand | Strengthening presence and gaining a majority market share |
| Slovakia | Considering the possibility of doubling capacity at US Steel’s European operations |
Strategic goal: Surpassing ArcelorMittal
Hashimoto emphasized Nippon Steel’s ambition to close the gap with ArcelorMittal and eventually become the world’s leading steelmaker by raising global crude steel production to 100 million mt.
“To avoid negative impacts from China, we can’t allow it to dominate crucial markets like the US, India, Europe, and Thailand,” he said, acknowledging China’s ongoing low-priced steel exports to the global market.