ArcelorMittal Nippon Steel India together with the Odisha government has introduced a feasibility study for its proposed 12-million-tonne per annum (mtpa) integrated steel plant in the Kendrapara district of the state.
In March, Gujarat-based ArcelorMittal Nippon Steel India (AM/NS India) had inked a memorandum of understanding (MoU) with the Odisha government to establish the greenfield project in Kendrapara with an investment of Rs
50,000 crore. AM/NS India is a 60:40 joint venture (JV) firm between Mittal’s Luxembourg-based ArcelorMittal and Nippon Steel of Japan.
In an investor presentation, ArcelorMittal stated, “AM/NS India is developing its longer-term opportunities for growth and has signed an MoU with the government of Odisha to explore options for a greenfield integrated steel plant in the Kendrapara district.”
“The company has initiated, in coordination with the government of Odisha: a feasibility study, securing relevant permissions, land acquisition, developing logistics infrastructure and other enabling conditions to plan for the project construction.”
It added AM/NS India endures to mature its plans for future growth in both steel production as well as iron ore mining.
The Thakurani iron ore mines, which AM/NS India had succeeded in an auction process in Odisha, is now operating at full 5.5mt capacity. Its second pellet plant in Odisha is also likely to be completed in the April-June period, adding 6mt for a total 20mt of the firm’s pellet making capacity, the presentation said.
