ArcelorMittal Nippon Steel (AMNS) India is likely to begin construction work on a seven million tpa Paradip plant in Odisha by January 2023. The investment in the steel plant is estimated to be Rs 38,000 crore.
The Odisha government has allotted 1,485 acres of land to the company for the proposed project, which is expected to be the company’s first greenfield plant in the country. The preparatory work for Paradip and Kendrapara integrated steel plants is underway, and an environment clearance (EC) application has been submitted for both projects. The terms of reference (RoR) for the environment clearance for Paradip plant have been issued.
AMNS has an iron-ore mine, a slurry pipeline and a pellet plant in Paradip, the coastal town where one of India’s major ports is located. Apart from Paradip, the steel major has proposed a plant at Kendrapara. Additionally, it has also announced expansion of the Hazira plant from nine MT to 15 MT and building value-added downstream units for a combined investment of USD 7.5 billion.
ArcelorMittal holds 60 percent share in AMNS India, with Japan’s Nippon Steel owning the remaining shares.
