ArcelorMittal Nippon Steel India to invest Rs. 1 lakh 66 thousand crore in 6 different projects in Gujarat
Approx. 1.80 lakh direct-indirect opportunities to be generated
Gandhinagar, Thursday: ArcelorMittal Nippon Steel India Limited today signed MoU with Industries Department of State Government in the presence of Gujarat Chief Minister Mr. Bhupendra Patel. ArcelorMittal Nippon Steel India has proposed to invest Rs. 1 lakh 66 thousand crore in 6 different projects in the state.
As a part of 10th Vibrant Gujarat Global Summit-2022, Additional Chief Secretary to Department of Industries Mr. Rajiv Gupta and CEO on behalf of ArcelorMittal Nippon Steel India Mr. Dilip Oommen signed the MoU.
ArcelorMittal Nippon Steel India’s 6 proposed investment projects include, Rs. 4200 crores for expansion and modernization of existing captive jetty at Hazira, Rs. 45,000 crore to increase the capacity of the existing 8.6 MMTPA steel manufacturing plant to 18 MMTPA, Rs. 30,000 crore for expansion with captive port capacity to Green Steel Plant at Suvali, Surat as well Rs. 30,000 crore for Steel City and Industrial Cluster in Kidiabet, Surat.
A total of 10 gigawatts of renewable power generation plants at various locations in the state will be set up by ArcelorMittal Nippon Steel with an investment of approximately Rs 40,000 crore. This will include hybrid, solar and wind energy. MoU has also been signed for a 2200 MW plant at Kanatalav in Bhavnagar district in the first phase.
ArcelorMittal Nippon Steel India is also planning to invest Rs 17,000 crore in another downstream, Coke oven projects in Hazira, Surat.
Approximately 1 lakh 80 thousand direct and indirect employment opportunities will be generated through this.
Government of Gujarat will co-operate with ArcelorMittal in accordance with the existing policies and regulations for the necessary permits to be given for the timely commencement of these projects.
Chief Principal Secretary to CM Mr. K. Kailashnathan Industry Commissioner Mr. Rahul Gupta and senior representatives of ArcelorMittal graced the occasion.
Source: Information Department, Gujarat