Nippon Steel plans to double its steel production in the US within three to five years following its acquisition of US Steel in June. Chairman and CEO Eiji Hashimoto unveiled the company’s $11 billion investment plan through 2028 to overhaul aging infrastructure and enhance production efficiency. The initiative includes the introduction of advanced manufacturing technologies such as high-performance electrical steel sheets, widely used in electric vehicle motors.
Hashimoto expressed confidence despite the US government’s “golden stake” in US Steel, which grants it veto power over major decisions, stating that US industrial policy aligns with Nippon Steel’s global vision. Beyond its US ambitions, the company aims to raise total output from 58 million to 100 million tons worldwide, marking a decisive push to become the leading global steel producer.
Expansion efforts include a massive steel mill joint venture with ArcelorMittal in India, capacity doubling at US Steel’s Slovakian plants, and fresh investments in Thailand. These projects reflect a strategic pivot toward high-growth regions and advanced technologies. However, Hashimoto voiced concerns over growing pressure from low-priced Chinese steel exports, highlighting global market volatility as a persistent challenge.
