ArcelorMittal & Nippon Steel to invest Rs 2000 cr in Odisha

Bhubaneswar: ArcelorMittal & Nippon Steel on Saturday informed that it will invest around Rs 2000 crore in the first phase in Odisha.

“We already have Rs 2000 crore investment plan in Odisha, which is going on,” informed Lakshmi Mittal, Chairman of ArcelorMittal group.

LN Mittal on Saturday held a discussion with Chief Minister Naveen Patnaik about the company’s investment plan via video conferencing.

ArcelorMittal Group will invest Rs. 2000 Crore in the first phase as part of their expansion plan, by enhancing the capacity of Pellet plant at Paradeep to 12 MPTA from 6MPTA and of benefication plant at Dabuna(Keonjhar) to 16 MPTA from 5MPTA.

Mittal thanked the Chief Minister for his leadership in managing COVID-19 pandemic in extraordinary manner.

He also appreciated the Chief Minister for his effort in extending cooperation to industrial houses and said that transparency maintained in leasing of Sagasahi and Thakurani Mines in the State auctioned in favour of his company has created world class bench mark. 

Chief Minister suggested Mittal for value addition within Odisha to Odisha’s minerals so that it will create more job opportunity and help boost Odisha’s economy.

He also assured all possible cooperation in the matter.