|
BusinessWire India
Mumbai (Maharashtra) [India], September 20: 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 corrosion resistance 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 only delivering 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." 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 steel brand with a unique composition of Zinc, Aluminium, and Magnesium, offering exceptional corrosion resistance and self-healing properties. Previously, this high-end value-added steel was imported mainly from Korea, Japan, and China, often taking months for delivery. AM/NS India has invested nearly Rs. 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 capture more 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 Industries and NTPC. Such partnerships will ensure that Magnelis is a cornerstone in building the next generation of renewable projects across the country. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
|
