ArcelorMittal will build the world's largest steel manufacturing plant in Hazira, Gujarat, western India, according to local reports. The first phase of the expansion project will be completed in 2026 and the second phase of the expansion will be completed in 2029 with an annual capacity of 24 million tons. This massive project not only demonstrates ArcelorMittal's confidence in the future of the steel market, but also reflects its focus on emerging markets such as India.
According to the data, in terms of crude steel production, ArcelorMittal's annual output has increased from 78.46 million tons in 2020 to 79.26 million tons in 2021 and 68.89 million tons in 2022, and the group has always ranked second in the world's steel production. Although the Group's steel production declined in 2022 due to the decline in steel demand in the international market and the reduction of inventories in the ** chain, this figure is still impressive. This steady output is not only a testament to ArcelorMittal's excellent production technology and management capabilities, but also supports its leading position in the global steel market. In addition, if the Hajira steel plant is completed in 2029 as scheduled, ArcelorMittal's steel production capacity will be significantly increased, further strengthening its position as a global steel giant.