ArcelorMittal Nippon Steel to set up Rs 50,000 cr integrated unit in Odisha

The plant, coming up at Kendrapara, is in addition to other investments of AM/NS in the state such as 6MTPA pelletization plant in Paradeep, beneficiation complex in Keonjhar and slurry pipeline

The Government of Odisha and ArcelorMittal Nippon Steel India Limited signed an MoU today for setting up an integrated steel complex in Kendrapara District of the state for an investment of more than Rs 50,000 crore.

ArcelorMittal Nippon Steel is one of the largest steel makers of the world and combines the financial might of the LN Mittal Group including their international presence in the sector and the technological prowess and management strength of Nippon Steel, which is a Japanese company renowned in the world for its high-technology steel products.

The MoU was signed in the presence of Chief Minister Naveen Patnaik and L N Mittal, Chairman of the Mittal Group. Prafulla Mallik, Minister Steel & Mines and Works and Atanu Sabyasachi Naik, MLA, Mahakalpara were also present.

Mittal mentioned that he is very happy to partner with Government of Odisha in setting up this integrated steel complex at Kendrapara, which is in addition to the other investments of AM/NS in Odisha including the 6MTPA pelletisation plant in Paradeep which will be expanded to 12 MTPA and the beneficiation complex in Keonjhar and slurry pipeline which are already operational.