ArcelorMittal Nippon Steel ties up with Odisha to set up steel plant
Steelmaker ArcelorMittal Nippon Steel India (AMNS India) on Thursday signed an agreement with the Odisha government to set up an annual steel production capacity of 12 million tonnes in the state.
The plant will be set up in the Kendrapara district of the state at a cost of Rs 50,000 crore.
State Chief Minister Naveen Patnaik and Laxmi N Mittal were present at the ceremony organized to sign the agreement. The ceremony was held at Lokseva Bhavan.
ArcelorMittal Nippon Steel is one of the largest steelmakers in the world. This includes the financial strength of the LN Mittal Group and the strength of the Japanese company Nippon Steel’s steel sector technology.
An official said that during the day, Mittal met the Chief Minister at his residence and discussed the project to be undertaken by his company ArcelorMittal in the state. Earlier on Tuesday, Mittal also met Union Steel Minister Dharmendra Pradhan in Delhi.
Patnaik said on the occasion that Odisha has emerged as the most attractive investment destination in the country due to its industry-friendly policies. At the same time, Mittal said that he is happy about the partnership with the Odisha government. His company will set up an integrated steel complex at Kendrapara in Odisha.
