AMNS India to construct Paradip plant for Rs 380 B

ArcelorMittal Nippon Steel (AMNS) India is set to commence work on a seven million tpa Paradip plant in Odisha around January 2023. The investment in this steel facility is projected at Rs 380 billion.The Odisha government has provided 1,485 acres of land for the proposed project, which marks AMNS's inaugural greenfield plant in the nation. Activities are in progress for both Paradip and Kendrapara integrated steel plants, with environmental clearance applications submitted for both endeavours. The terms of reference (RoR) for the environmental clearance of the Paradip plant have been released.AMNS already possesses an iron ore mine, slurry pipeline, and pellet plant in Paradip, a coastal town housing a major Indian port. In addition to Paradip, the steel giant has outlined plans for a plant in Kendrapara. Furthermore, it aims to expand the Hazira plant from nine MT to 15 MT and establish value-added downstream units, constituting a combined investment of $7.5 billion.AMNS India is divided with ArcelorMittal holding a 60 percent stake and Japan’s Nippon Steel owning the remaining shares.