ArcelorMittal Nippon Steel India (AM/NS India) – a joint venture between ArcelorMittal and Nippon Steel – marked the expansion of its business to Jammu and Kashmir (J&K) with the opening of its first Hypermart outlet. Located at Purmandal Morh in Jammu, the outlet will provide direct and immediate access of quality steel products to businesses operating in various segments such as infrastructure, housing, and Micro Small and Medium Enterprises (MSME), according to a press statement.
Hypermart is AM/NS India’s 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. Businesses across J&K will benefit from customisation of orders and a wide range of value-added steel products available through Hypermart, it said.
Ranjan Prakash Thakur, Principal Secretary, Department of Industries & Commerce, Government of Jammu and Kashmir inaugurated AM/NS India’s latest Hypermart outlet and said, “We are delighted that ArcelorMittal Nippon Steel India marks its footprint in J&K. Over the last year, we have accelerated the economic and industrial development of the region in an unprecedented manner. We have received formal investment proposals with detailed project reports to the tune of Rs 50,000 crore. The entry of ArcelorMittal Nippon Steel India will surely help in fast-tracking the infrastructure and industrial development of the region, besides immensely benefitting the people. I am also confident that with the success of Hypermart, ArcelorMittal Nippon Steel India will further expand its operations, going forward.”
Alain Legrix, Director & Vice President - Sales & Marketing, ArcelorMittal Nippon Steel India, said, “We are pleased to have brought Hypermart to Jammu and Kashmir. We’re proud to bring our premium range of steel products to support infrastructure development and industrial activity in this important region of northern India. Businesses will now have direct access to a range of bespoke steel products, underpinned by the quality, value and technology.”
Ranjan Dhar, Chief Marketing Officer, ArcelorMittal Nippon Steel India, said, “Steel intensive infrastructure development is a proven model for rapid economic progress. Hypermart has been mandated to fulfil the steel needs of J&K.”
AM/NS India’s Hypermart network strategically spans several regions across the country, including Hazira, Taloja, Mangalore, Ghaziabad, Hyderabad, Coimbatore, Bengaluru, Ahmedabad, Ludhiana and Jodhpur. The Hypermart division currently accounts for 20 percent of AM/NS India’s overall revenues and this share is expected to rise to 30 percent as the expansion plans for the network of outlets are underway.