ArcelorMittal Nippon Steel, the world’s second largest steel maker, will invest over Rs 1 lakh crore in Odisha by setting up a 24 million tonnes per annum (million tonnes) integrated steel facility in the state, an official statement said on Friday.
A high level sanctioning authority of the Government of Odisha headed by the Chief Minister Naveen Patnaik Approved this facility, which will create 16,000 jobs apart from indirect employment opportunities.
The greenfield facility in Kendrapara district is considered to be one of the largest manufacturing units in India and will produce 18.75 MTPA of cement besides various grades of steel. The scheme will be completed in a phased manner in seven years.
The state government is also in the process of setting up a high powered committee under the chairmanship of the chief secretary of the state, which will oversee the time bound clearances and other logistics requirements.
Along with the steel complex, the official statement said, the company will also develop a downstream industry park to promote MSMEs and also help in import substitution as a large number of subsidiaries manufacturing companies are required to support this steel. It is expected to set up its units in the area. Facility.
Through this investment, the Odisha government has achieved an investment of Rs 2.7 lakh crore in the last one year, while creating potential employment opportunities for 1,60,000 people, the statement said. The government is expected to comprehensively pursue socio-economic development across the region, the statement said.
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