Reduces import dependency, cuts delivery times, and supports Atmanirbhar Bharat
Serves India’s solar sector; AM/NS India targetsmore than 50% market share
Mumbai 18 September 2024: – ArcelorMittal Nippon Steel India (AM/NS India) – a joint venture between ArcelorMittal and Nippon Steel, two of the world’s leading steelmakers – announces the launch of Magnelis®, a globally recognised steel brand with unparalleled corrosionresistance and self-healing properties.
The innovative steel brand was unveiled during a glittering event held on Monday in Mumbai.Magnelis® – ArcelorMittal’s patented brand –is now being manufactured and distributed in India, thus boosting supply efficiency for strategically important, high-growth sectors such as renewable energy while reducing the country’s dependency on imported specialty steel products.
Mr DILIP OOMMEN, CHIEF EXECUTIVE OFFICER (CEO), ARCELORMITTAL NIPPON STEEL INDIA (AM/NS INDIA), said, “The launch of Magnelis® in India is a testament to our commitment to fulfilling the nation’s growing demand for high-performance steel while contributing to the vision of Atmanirbhar Bharat. By producing this world-class, import-substitute steel; we are not onlydelivering quality infrastructure solutions but also contributing to accelerate India’s clean energy transition. Magnelis® is the future of sustainable materials, and its introduction marks a significant step towards building the nation’s global-standard infrastructure.”
Mr RANJAN DHAR, DIRECTOR AND VICE-PRESIDENT OF SALES & MARKETING, ARCELORMITTAL NIPPON STEEL INDIA (AM/NS INDIA),said, “The launch of Magnelis® in India is a pivotal moment for us as this unique solution has proven its performance in global solar projects, contributing to 50 GW of installed capacity. The production of the new offering here is cutting down delivery time and drastically reducing logistics costs, thus providing domestic customers with a faster and more efficient solution for their infrastructure needs as India is stepping up its nation-building initiatives. Other end-use sectors include road infrastructure (crash barriers), agriculture infrastructure (grain silos, farm equipment) and construction (pre-engineered building structures).”
Magnelis® is an advanced alloy coated steelbrand with a unique composition of Zinc, Aluminium, and Magnesium, offering exceptional corrosion resistance and self-healing properties.Previously, this high-endvalue-added steel was imported mainly from Korea,Japan,and China, often taking months for delivery.
AM/NS India has invested nearly ₹1000 crores to establish a production line for Magnelis® with a capacity of 5 lakh tonnes per annum at its flagship plant in Hazira, Gujarat. AM/NS India plans to capturemore than 50% of the domestic market share for steel supplied to solar projects. The product’s proven performance in hostile environments makes it ideal for solar panel mounting systems and other renewable energy applications that will be integral to supporting India’s energy transition.AM/NS India is already in advanced discussions to supply Magnelis® to key players in India’s renewable energy and infrastructure sectors, including Adani Green Energy, Reliance Industriesand NTPC. Such partnerships will ensure that Magnelis® is a cornerstone in building the next generation ofrenewable projects across the country.
