Austrian steel group voestalpine AG is prioritizing the Indian market as a cornerstone of its international expansion. As part of a diversification strategy, the company is developing major growth projects in India within the railway infrastructure, storage systems, and aviation sectors.

This expansion in India works with the company’s broader reorganization, which includes selling less profitable units and investing around EUR 1.5 billion into its greentec steel program.

By combining asset acquisitions with development in markets with higher demand, such as India, voestalpine aims to maintain strong profitability despite a slight decline in overall revenue.

CEO Herbert Eibenstainer said that these initiatives allow the group to adapt quickly to changing global market conditions.