The company plans to invest 1 billion rupees ($11.9 million) in these centres, which will process domestic industrial and end-of-life vehicle ferrous scrap. Currently, AM/NS uses a scrap mix that accounts for 3-5 per cent of the total steelmaking capacity at its Hazira plant and aims to increase this to 9 per cent by 2025.
India's steel sector is showing a trend towards investing in scrap processing centres due to scrap protectionism and increasing scrap utilisation.
The move is part of this trend and contributes to reducing carbon emissions, with AM/NS reporting a 32% reduction in 2022 compared to 2015 levels. Other major steelmakers such as Tata Steel and JSW Steel are also investing in steel recycling and scrap shredding plants.
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