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  • ArcelorMittal Nippon Steel India to set up 12 MTPA Integrated Steel Complex at Odisha's Kendrapara
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States » EastPosted at: Mar 4 2021 5:54PM


ArcelorMittal Nippon signs MoU to set up 12 MTPA steel plant in Odisha

Bhubaneswar, Mar 04 (UNI) Arcelor Mittal Nippon will set up a 12 MTPA steel plant in Odisha with an investment of Rs 50,000 crore.
An MoU in this regard was signed today between ArcelorMittal Nippon and the Odisha government to establish the 12 MTPA Steel Plant in Kendrapara district of Coastal Odisha.
Chief minister Naveen Patnaik and L N Mittal were present at the MoU signing ceremony at New convention centre Lokaseva Bhavan.
World's largest steelmaker Arcelo Mittal had in 2006 signed an MoU with the Odisha government to set up a 12 MTPA steel plant in Keonjhar district at an investment of Rs. 40,000 crore.
A per the MoU the 12-MTPA plant would come up in two phases. A 6-MTPA steel plant would be completed within 48 months after the detailed project report (DPR) is prepared .
The balance 6-MTPA capacity would be added in 54 months after completion of the first phase. The plant facility would consist of a coke oven, steel making, rolling mills and captive power plant. The proposed plant in Odisha was among the biggest foreign direct investments India has attracted.
The company had sought about 8000 acres of land for the project.

However, after almost seven years of signing the MoU the Arcelor Mittal in 2013 scrapped the Odisha project due to inordinate delay in land acquisition and allocation of captive iron ore block as it found the project not viable.
And now after pulling out from its project in Keonjhar, the company had shown keen interest to set up the plant in coastal Odisha in Kendrapara district.

The Odisha government wanted the ArcelorMittal to honour its commitment and revive its project when the company took over Essar Steel under the Insolvency and Bankruptcy Code (IBC) in December 2019
UNI DP AND
Tags: #ArcelorMittal Nippon signs MoU to set up 12 MTPA steel plant in Odisha
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