ArcelorMittal Nippon Steel India along with the Odisha government has initiated a feasibility study for its proposed 12-million-tonne per annum (mtpa) integrated steel plant in the Kendrapara district of the state.
In March 2021, Gujarat-based ArcelorMittal Nippon Steel India (AM/NS India) had signed a memorandum of understanding (MoU) with the Odisha government to set up the greenfield project in Kendrapara with an investment of Rs 50,000 crore.
AM/NS India is a 60:40 joint venture (JV) company between Mittal’s Luxembourg-based ArcelorMittal and Nippon Steel of Japan.
In an investor presentation, ArcelorMittal said, “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 further said AM/NS India continues to develop 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 won in an auction process in Odisha, is now operating at full 5.5mt capacity. Its second pellet plant in Odisha is also expected to be completed in the April-June period, adding 6mt for a total 20mt of the company’s pellet making capacity, the presentation said.
