ArcelorMittal Nippon Steel India (AM/NS), a joint venture between two of the world’s leading steelmakers ArcelorMittal and Nippon Steel, on Tuesday announced the opening of its first Hypermart retail outlet in Jebel Ali Free Zone Area (Jafza) as part of its expansion strategy in the Middle East.
Hypermart is an integrated platform for retail, trade, and last-mile sales of steel grades for diverse segments involved in a range of manufacturing activities, including the production of fabricators, engineering goods, and auto components. The Hypermart division currently accounts for 20 per cent of AM/NS India’s overall revenues. It is expected to surge up to 30 per cent as the expansion plans for the network of outlets are underway.
The announcement was made on the side-lines of the inauguration of ‘Steel Week’ at India Pavilion, Dubai EXPO 2020, on Friday. This week-long event seeks to highlight the expertise of the INDIAN steel sector and showcase an array of opportunities as well as collaborative business potential.
In attendance at the Steel Week inaugural event was the delegation from the Ministry of Steel, Government of India, led by Ram Chandra Prasad Singh, Union Minister of Steel, accompanied by senior officials from the Indian Steel Association (ISA) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
Dilip Oommen, chief executive officer, ArcelorMittal Nippon Steel India (AM/NS India) and president of Indian Steel Association (ISA), said the Middle East is a high-growth market, and “we are glad to join the journey of the region towards development”.
“We’re proud of our premium range of steel products and bringing our offerings to support infrastructure development and industrial activity in this important geographical belt is a reflection of our commitment to the progress it is making.”
“With the opening of Hypermart, the regional businesses will have direct access to a range of bespoke steel products that are best in quality and underpinned by value and technology. It is an important step that will enable us to offer value-added steel solutions to the region as a reflection of our commitment to deliver ‘smarter steel for a better world’”, he added.
Located at Jafza South, the outlet will provide easy access to quality steel products to businesses operating across sectors in the UAE and the Middle East. Businesses across the region stand to benefit from the customisation of orders and a wide range of steel products through Hypermart.
During the occasion, AM/NS India also announced a collaborative expansion strategy and other initiatives for the middle eastern region and reiterated the fact that the organisation wants to be a committed partner to the middle eastern growth story in line with India’s long-term commitment to the region.
News Source: Khaleej Times