Visakhapatnam: AMNS India crude steel production increases 5 per cent

Visakhapatnam: Steel Maker Arcelor Mittal Nippon Steel India (AM/NS India) said in a statement on Thursday that it has produced a record 7.23 MT crude steel registering a growth of 5 per cent during the financial year 2019-2020.

Despite the challenging times, AMNS attained the record production volumes in the 2019-20 financial year.

The crude steel production has gone up to 7.23 MT compared to 6.92 MT registered in 2018-19.

Even in pellet production, it touched 11.63 MT during the period compared to 1.63 MT registered last fiscal.

Despite the Central and State governments designating steel production as an essential service production as an essential service during the lockdown period, the statement said, constraints on the movement of people, logistics forced for a significant cut in production to prevent build-up excessive stock.

According to CEO of AMNS Dilip Oommen, despite demand volatility, AMNS India made great strides to improve its overall performance and operational efficiency.

"Our record performance would have been even stronger but for the impact of Covid-19 on domestic and global steel demand towards the March end," he mentioned.