ArcelorMittal Plans to Invest Rs.50,000 Cr to Set Up Steel Plant in Odisha

Arcelor Mittal Nippon Steel inks MoU with Odisha Government to set up a 12 million tonne integrated steel plant in Kendrapara district of Odisha. This initiative has been started with an investment of Rs.50,000 crores. The MoU has been signed between Odisha Chief Minister Naveen Patnaik and ArcelorMittal Chairperson and CEO Lakshmi Vilas Mittal.

Also, the Union Minister of Petroleum and Natural Gas Dharmendra Pradhan had stated that Odisha’s long coastline is going to be the epicentre for the development of India.

Dharmendra further adds, "The government-led initiatives in the petroleum and steel sectors will provide impetus to the maritime economy in Odisha. Integration of crucial infrastructures like road, rail and port will lead to the industrial development of the state. Potential for the port-led blue economy will be unlocked with the multi-modal rail, road and air linkages with sea and riverine ports for transport of minerals and goods at much lower logistics cost."

Likewise, on February 28, 2020, Dharmendra had stated that Odisha would be made a nerve center in the steel sector. He even took part in the workshop on "Enabling procedures for the increase of steel used for the growth of the economy".

Speaking on the occasion, Dharmendra had said he is looking forward to making Odisha, the nerve center of Purvodaya (rise of the east) in steel sector.

He continued, "Prime Minister Narendra Modi has given a clarion call for Mission Purvodaya, that is Eastern India driving the national growth and propelling India towards becoming a $5 trillion economy."