Steel maker AMNS India is looking to enter the domestic green energy market, the company’s CEO Dilip Oommen said.
AMNS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two foreign entities completed the acquisition of Essar Steel Limited plant located at Hazira in Gujarat, and later renamed it as ArcelorMittal Nippon Steel (AMNS) India.
AMNS India is an integrated flat carbon steel manufacturer with an achievable crude steel capacity of 9 million tonnes per annum (MTPA).
“Our vision is very clear that we need to set up a renewable energy business. We are working with the government on this and are in discussions to procure land. We are keen on producing greener steel as much as possible and renewable energy will be an important portion of our power portfolio,” Oommen said.
He said the business plan is being worked on at pressent.
According to the sources, Lakshmi Mittal, the executive chairman of ArcelorMittal along with Oommen had met the Gujarat Chief Minister. In a meeting, Mittal had committed to invest Rs. 50,000 crore in the field of hydrogen gas and renewable energy.
Earlier in January, the company has acquired Essar Power Orissa, a captive power plant of Essar Steel.