India’s ArcelorMittal Nippon Steel Limited (AMNS) has bolstered its portfolio of colour coated steel with the addition of two new products, aiming to capture 25 percent of the domestic market for colour coated steel, a company official said on Tuesday, June 3.
“We have launched Optigal Prime and Optigal Pinnacle, branded colour coated products, a totally new product range in the domestic steel industry, to cater to this demand. We are targeting sectors like highways, railways, metros, airports with our innovative and sustainable product," AMNS, director, marketing and sales, Rajan Dhar, said in a statement.
Mr. Dhar said that Indian domestic demand for colour coated steel products was around 3.4 million mt per year and, with the addition of two new products in its portfolio, AMNS was aiming to secure a share of 25 percent of this market within the next two to three years.
The demand for colour coated steel is growing in the range of 10-12 percent in India and AMNS also plans to increase its capacity in this segment soon, he said.
Dhar said that high-end corrosion-resistant steel has been produced for the first time in India, while until now it was being produced only in Europe.
AMNS currently has a colour-coated steel production capacity of approximately 700,000 mt per year with plans underway to increase it to 1 million mt in the near future.