Odisha govt okays ArcelorMittal Nippon Steel plan to set up integrated steel plant, will create 16,000 jobs   |  Photo Credit: BCCL
New Delhi: The Odisha government has given the green signal to a proposal from ArcelorMittal Nippon Steel (AM/NS) to set up a 24 million tonnes per annum (mtpa) integrated steel plant at Mahakalpara block of Kendrapara district at an investment of more than Rs 1 lakh crore.
The decision was taken at a meeting of the high-level clearance authority (HLCA) chaired by Odisha Chief Minister Naveen Patnaik. More importantly, the steel plant will generate around 16,000 jobs, besides creating indirect employment opportunities via ancillary and downstream industries and services.
The Naveen Patnaik-led Odisha government has said the Arcelor Mittal Nippon Steel plant will be the largest project in the manufacturing sector in the country.
The ArcelorMittal Nippon Steel will produce various grades of steel with its latest green steel-making technology at its Kendrapara complex. It will also produce high-value added steel downstream products. Additionally, this facility will also produce 18.75 MT of cement annually, making it one of the largest cement manufacturing plants in the country, and will help the infrastructure development in the region.
The company will develop a downstream industry park to promote micro small and medium enterprises (MSMEs) to help import substitution. The project will be completed in seven years in phases, and the state will focus on extensive socio-economic development across the region.
A large number of ancillary manufacturing firms are likely to set up shops in this region to support the massive steel manufacturing facility. The infrastructure to be developed for the Kendrapara projects facility will give an impetus to the logistics and overall development of the region. This modern, green and environment-friendly steel making facility will put Kendrapara and Odisha on the world steel map.
A number of international equipment manufacturers will be stakeholders in this project and create more employment opportunities for the state.
With this huge investment, Odisha has garnered investments worth Rs 2.7 lakh crore in the past 12 months, generating potential employment opportunities for over 1.6 lakh persons. At present, Odisha is the largest steel producer in India, and the state’s steel-making capacity is likely to cross 100 million tonnes by 2030.