ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between two of the world’s leading steelmakers ArcelorMittal and Nippon Steel, announced the opening of its first Hypermart retail outlet in Jebel Ali Free Zone Area (JAFZA) of Dubai, UAE – 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, Hon’ble 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).
Announcing the launch of Hypermart, Dilip Oommen, Chief Executive Officer – ArcelorMittal Nippon Steel India (AM/NS India) and President – 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.”
