AMNS Luxembourg Holding S.A. signs $5 billion loan agreement with consortium of Japanese banks
ArcelorMittal announces that AMNS Luxembourg Holding S.A., the parent of AM/NS India, has secured a $5 billion loan from the Japan Bank for International Cooperation and other banks. This funding will facilitate the expansion of AM/NS India's steelmaking capacity at the Hazira plant from 9 million tonnes to 15 million tonnes. The project, initiated in October 2022, also includes the development of downstream facilities to produce value-added steels for sectors like defence, automotive, and infrastructure. It is expected to create over 60,000 jobs.
- Secured $5 billion loan for capacity expansion.
- Expansion will increase steelmaking capacity from 9 million tonnes to 15 million tonnes.
- Creation of over 60,000 jobs.
- None.
31 March 2023, 07:00 CET
ArcelorMittal (‘the Company’) today announces that AMNS Luxembourg Holding S.A., the parent company of AM/NS India, the Company’s 60/40 steelmaking joint venture with Nippon Steel Corporation in India, has entered into a
The proceeds obtained through the JBIC co-financing loan will be used to finance the expansion of AM/NS India’s annual steelmaking capacity at its Hazira plant from 9 million tonnes to 15 million tonnes. In addition to the primary steelmaking capacity expansion, the project includes the development of downstream rolling and finishing facilities that will enhance AM/NS India’s ability to produce value-added steels for sectors including defence, automotive and infrastructure. The expansion project, which started in October last year upon receipt of environment permitting, will create more than 60,000 jobs.
ENDS
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