Mega plant to bring a new wave of economic development to Kendrapada
ArcelorMittal Nippon Steel has signed a Memorandum of Understanding for a Rs.50,000 crore plant in Kendrapada with the Odisha government on 4 Mar 2021.
Congratulating the group on the MoU for setting up a 12 MT integrated steel plant, Steel Minister Dharmendra Pradhan said, “This mega steel plant in Kendrapada will bring a new wave of economic development and employment generation in Odisha.”
L N Mittal, leading the group, had discussed with Pradhan on 2 March 2021 the growth of steel industry in India, particularly in eastern India.
Pradhan had earlier launched Mission Purvodaya in steel sector to drive growth of eastern India to make it an integrated steel hub through setting up a steel cluster and greenfield capacity addition.
The latest investment commitment will contribute to achieving National Steel Policy’s envisioned capacity of 300 MTPA by 2030.
The Indian Government is committed to provide all kind of facilities for setting up of this mega steel plant, assured Pradhan in a statement on 5 Mar 2021.
The 12 MT steel plant is a culmination of the Government’s efforts towards bringing in investors for wealth creation and employment generation through supportive policy reforms such as National Steel Policy as well as facilitative infrastructure.
“This ArcelorMittal-Nippon mega steel plant in Kendrapada will benefit from massive infrastructure developments in the region over the past six years such as expansion of Paradip port and setting up of Mahanadi riverine port, key freight and passenger rail corridors such as the Paradip-Haridaspur new line, fast-track construction of highways etc,” he said. #investment #plant #tenders #project #infrastructure /fiinews.com
