ArcelorMittal's Chairman Aditya Mittal
ArcelorMittal's arm AMNS India will invest Rs 60,000 crore to scale up capacity of its steel plant here to 15 million tonnes (MT), the company's chairman Aditya Mittal said on Friday.
The existing capacity of the plant is 9 MT.
"We will invest Rs 60,000 crore to increase capacity of our plant to 15 MT," Mittal said after performing the "Bhoomi Pujan" at the plant, which marked the start of the expansion project.
The investment will also be for installation of new steel making technologies, setting up new-age machineries and increase product mix, he said.
Mittal said a round-the-clock renewable energy source will also be set up to supply green energy to the plant.
The investment will create over 60,000 crore job opportunities across the country in various verticals of the company, the chairman said.
Mittal is also the CEO of parent company ArcelorMittal which holds 60 per cent equity in AMNS India.
In 2019, ArcelorMittal along with Japan's Nippon Steel completed the acquisition of the Essar Steel Limited plant located at Hazira in Gujarat, and later renamed it to ArcelorMIttal Nippon Steel (AMNS) India.
On October 6, steel maker AMNS said it has received environmental clearance for the expansion of the plant.
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First Published: Oct 28 2022 | 7:47 PM IST