Dec. 17, 2021 - ArcelorMittal and Japan's Nippon Steel will use green steel making technology to produce 24 million tonnes (MT) of various grades of steel in Odisha state of India. Both the companies have partnered to invest ₹1 lakh crore in Odisha to set up a 24 MTPA integrated steel plant. It will generate an employment for 16,000 people in the State, the Odisha government said on Friday. Their facility will also produce 18.75 million tonnes of cement annually, making it one of the largest cement manufacturing plants in India.
Along with the steel complex, the company will also develop a downstream industry park to promote the MSMEs and help import substitution. A large number of ancillary manufacturing companies are expected to put up their units in this region to support the huge steel making facility, the Odisha government said.
The infrastructure to be developed for the Kendrapara projects facility will give a boost to the logistics and overall development of the region. This modern, green and environment friendly steel making facility will put Kendrapara and Odisha on the world steel map. A number of international equipment manufacturers will be stakeholders in this project and catalyse more employment opportunities to the state.
With this massive investment, Odisha has garnered investments worth ₹2.70 lakh crore in the past 12 months, creating potential employment opportunities for over 1.6 lakh people, government said.
Odisha enjoys the tag of largest steel producing Sstate in India and such projects will further enhance the production to cross the 100 MT steelmaking capacity by 2030.