ArcelorMittal Nippon Steel India, a joint venture between global steel giants ArcelorMittal and Nippon Steel, has introduced Magnelis®, a revolutionary steel brand renowned for its exceptional corrosion resistance and self-healing properties. The launch event, held in Mumbai, marks a significant milestone in India's steel industry, promising to boost supply efficiency for high-growth sectors while reducing the country's reliance on imported specialty steel products.
Magnelis® is an advanced alloy-coated steel with a unique composition of zinc, aluminum, and magnesium. This innovative product, previously imported from countries like Korea, Japan, and China, will now be manufactured and distributed within India. The domestic production of Magnelis® is set to drastically reduce delivery times and logistics costs, providing Indian customers with a faster and more efficient solution for their infrastructure needs.
AM/NS India has made a substantial investment of nearly ₹1000 crores to establish a dedicated production line for Magnelis® at its flagship plant in Hazira, Gujarat. The new facility boasts an impressive annual capacity of 500,000 metric tons, demonstrating the company's commitment to meeting the growing demand for high-performance steel in India.
The introduction of Magnelis® in India is particularly significant for the renewable energy sector. The product has already proven its performance in global solar projects, contributing to 50 GW of installed capacity worldwide. AM/NS India aims to capture more than 50% of the domestic market share for steel supplied to solar projects, leveraging Magnelis®'s proven performance in hostile environments. The steel's unique properties make it ideal for solar panel mounting systems and other renewable energy applications, positioning it as a cornerstone in building the next generation of renewable projects across the country.
Beyond the renewable energy sector, Magnelis® is poised to make a significant impact in various other industries. Its applications extend to road infrastructure (crash barriers), agriculture infrastructure (grain silos, farm equipment), and construction (pre-engineered building structures). This versatility underscores the product's potential to contribute to India's broader infrastructure development goals.
Dilip Oommen, Chief Executive Officer of AM/NS India, emphasized the significance of this launch, stating that it demonstrates the company's commitment to fulfilling India's growing demand for high-performance steel.
