ArcelorMittal-Nippon Steel’s (AM/NS) has doubled its investment plans in Odisha, seeking clearance for 24 MTPA integrated steel plant at Mahakalpara block of Kendrapara district.
The company plans to complete this project in seven years, said a government release. The JV had earlier this year, in March, signed an MoU with the state government for a 12mtpa integrated steel plant.
The enhanced INR 1,02,275 crore proposed investment received the state government’s approval on Friday. The plan includes an 18.75 MT capacity cement unit, which on completion should make it among the largest cement plants in the country.
The Odisha government has constituted a high-power committee to be led by the chief secretary to pursue statutory clearances for the project. Officials said land- 8000 acres- has been identified for the project close to national highway and the Haridaspur-Paradip rail link and proposed riverine port at Kendrapara. AM/NS has also received a nod for a captive jetty project near Paradip.
Leave a Reply