India: AM/NS inks pact with Odisha govt to set up 12 mn t/annum steel plant in state

Steel baron L.N. Mittal, Executive Chairman of steel giant ArcelorMittal, has signed an MoU with Odisha Chief Minister Naveen Patnaik for AM/NS India to set up a 12 mn t/annum integrated steel plant in the coastal Kendrapara district of the state. The project envisages an investment of INR 50,000 crore. It bears recall that ArcelorMittal had in 2013 pulled out of a project to build a 12 mn t/annum steel plant and a captive power facility in Odisha’s Keonjhar district.