ArcelorMittal Nippon Steel India Launches Magnelis® for India's Solar Sector

ArcelorMittal Nippon Steel India (AM/NS India) has introduced Magnelis®, a revolutionary steel with corrosion resistance and self-healing properties, to the Indian market. This launch reduces import dependency and supports India's renewable energy sector. They aim to capture over 50% of the market share for domestic solar projects.

Mumbai, India – ArcelorMittal Nippon Steel India (AM/NS India) has launched Magnelis®, a cutting-edge steel renowned for its unparalleled corrosion resistance and self-healing properties. The launch, hosted in Mumbai, marks a significant step towards bolstering supply efficiency and cutting import dependency for India's high-growth sectors such as renewable energy.

According to CEO Dilip Oommen, producing Magnelis® domestically underscores the company's commitment to India's Atmanirbhar Bharat vision by providing top-tier steel infrastructure solutions that accelerate the nation's clean energy transition. Marketing Director Ranjan Dhar emphasized this move reduces delivery times and logistics costs, offering more efficient solutions for the infrastructure sector.

AM/NS India has invested nearly Rs. 1000 crores to establish a 5 lakh tonnes per annum production line at their Gujarat plant. They are in advanced discussions with major players like Adani Green Energy and Reliance Industries to ensure Magnelis® supports India's renewable energy projects. The new alloy-coated steel aims to dominate over 50% of the domestic market share for solar projects.

(With inputs from agencies.)