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Odisha CM Naveen Patnaik with CEO of ArcelorMittal Lakshmi N Mittal (@IPR_Odisha/Twitter)
Largest steel maker in the world, ArcelorMittal’s 60:40 Indian joint venture with Japan’s Nippon Steel has initiated a feasibility study to build a 12 million tonne per annum (mtpa) integrated steel plant in Odisha’s Kendrapara district, reports Economic Times.
This comes after ArcelorMittal Nippon Steel (AMNS) India had in bygone March signed a Memorandum of Understanding (MoU) with the Odisha Government for setting up a greenfield integrated steel plant in Kendrapara with an investment of a whopping Rs 50,000 crore.
It should be noted that the company’s second pellet plant in Odisha is also expected to be completed in the ongoing April-June quarter. This would augment its existing pellet manufacturing capacity by six mtpa to 20 mtpa.
The company meanwhile operates an integrated steel making plant in Hazira, near Gujarat’s Surat.