ArcelorMittal Nippon to build mega steel plant
Steelmaker ArcelorMittal Nippon Steel India (AM/NS India) on Thursday signed an MoU with the Odisha government for setting up a 12 million tonnes per annum (MTPA) greenfield integrated steel plant in Kendrapara district with an investment of Rs 50,000 crore.
Odisha’s Chief Minister, Naveen Patnaik and steelmaking tycoon Lakshmi N Mittal were present during the signing of the Memorandum of Understanding (MoU) at the state secretariat, Lokaseva Bhavan.
Kendrapara on the east coast provides ideal prospects for an Integrated Steel Complex, Patnaik said. The state government will provide the required support and facilitation for the setting up of this mega project.
According to official data, land acquisition and other work for grounding the project are set to start soon. In addition to this, other investments of AM/NS in Odisha include the 6 MPTA pelletisation plant in Paradip which will now be expanded to 12 MTPA. The beneficiation complex in Keonjhar and the slurry pipeline are already operational.
The Chief Minister advised Mittal to add value to the mineral resources procured from Odisha in the state itself to aid the creation of more employment opportunities.
AM/NS India has now acquired the Paradip pellet plant and Dabuna beneficiation plant of Essar in Odisha. The company has also bagged two mines called Sagasahi and Thakurani iron ore blocks in Odisha.
Odisha produces close to 110 MT of iron ore a year, which is nearly 25% of the country’s total steel. From 2014 to 2018 the state’s crude steel output went from 8.8 MTPA to 23 MTPA.