AMNS India Launches Domestic Magnelis Steel Product
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ArcelorMittal Nippon Steel Limited (AMNS) India has launched its domestically produced Magnelis branded special steel product. Known for its exceptional corrosion-resistance and self-healing properties, Magnelis is a patented alloy-coated steel previously imported from countries like South Korea, Japan, and China.
AMNS India has invested nearly INR 10 billion ($119.70 million) to set up a production line for Magnelis at its Hazira steel mill plant in Gujarat. This new production line has an annual capacity of 500,000 metric tons (mt) per year.
With the domestic production of Magnelis, AMNS India aims to secure over 50 percent of the domestic market share for steel used in solar projects. The company believes that Magnelis' superior corrosion-resistance and self-healing capabilities will make it a preferred choice for solar applications, contributing to the growth of India's renewable energy sector.
The launch of Magnelis is a significant milestone for AMNS India as it expands its product portfolio and strengthens its position in the domestic steel market. This move also aligns with the company's commitment to promoting sustainable and innovative steel solutions.
ArcelorMittal Nippon Steel Limited (AMNS) India has launched its domestically produced Magnelis branded special steel product. Known for its exceptional corrosion-resistance and self-healing properties, Magnelis is a patented alloy-coated steel previously imported from countries like South Korea, Japan, and China.
AMNS India has invested nearly INR 10 billion ($119.70 million) to set up a production line for Magnelis at its Hazira steel mill plant in Gujarat. This new production line has an annual capacity of 500,000 metric tons (mt) per year.
With the domestic production of Magnelis, AMNS India aims to secure over 50 percent of the domestic market share for steel used in solar projects. The company believes that Magnelis' superior corrosion-resistance and self-healing capabilities will make it a preferred choice for solar applications, contributing to the growth of India's renewable energy sector.
The launch of Magnelis is a significant milestone for AMNS India as it expands its product portfolio and strengthens its position in the domestic steel market. This move also aligns with the company's commitment to promoting sustainable and innovative steel solutions.
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