Chief Minister Naveen Patnaik-led Odisha government on Friday approved the proposal of ArcelorMittal Nippon Steel’s much-awaited mega steel plant to be set up in Mahakalpara block of Kendrapara district. Mittal will set up 24 MTPA steel plants against an investment of Rs 1,02,275 crore. The project will generate direct employment for 16,000 people.
It will be the largest manufacturing project in the country and will produce 24 MT of steel of various grades with its latest green steelmaking technology.
Along with the steel plant, Mittal will set up a cement plant that can produce 18.75 metric tonnes of cement annually, making it one of the largest cement manufacturing plants in the country and boosting infrastructure development in the region.
Through this investment, the Odisha government will promote comprehensive socio-economic development in the entire region. This mega project will be completed in phases over seven years.
Logistics infrastructure, power and water utilities and all clearances for the project will be provided by government agencies in a time bound manner, which will be monitored by a “High Power Committee” headed by the Chief Secretary, Odisha.
Along with the steel complex, the company will also develop downstream industry parks to promote MSMEs and help in import substitution. A large number of subsidiary manufacturing companies are also expected to set up their units in the region to support the huge steelmaking facility.
With this huge investment, Odisha has secured an investment of Rs 2.70 lakh crore in the last 12 months, creating potential employment opportunities for over 1.6 lakh people. The infrastructure to be developed for the Kendrapara project facility will boost the logistics and overall development of the region. This modern, green and eco-friendly facility will put Kendrapara and Odisha on the world steel map.
Several international equipment manufacturers will be stakeholders in this project and will catalyze more employment opportunities for Odisha.
“This is Odisha’s biggest manufacturing investment. India’s largest steel plant and India’s largest single location cement plant,” said Hemant Sharma, principal secretary, industries.
Odisha is enjoying the tag of largest steel producing state in the country and such projects will further boost the production to cross 100 MT steel making capacity by 2030.
LN Mittal, executive chairman of ArcelorMittal Nippon Steel, met Naveen Patnaik in August and discussed about the mega steel plant in Kendrapara district. The Chief Minister assured all possible cooperation for the speedy implementation of the proposed steel project and asked to expedite it.
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