Odisha CM Naveen Patnaik cleans bridges for 1.02 lakh-crore steel project AM / NS | Bhubaneswar News


Odisha CM Naveen Patnaik

BHUBANEWAR: A high-level committee chaired by Chief Minister Naveen Patnaik on Friday approved Arcelor Mittal / Nippon Steel (AM / NS) proposal to set up an integrated steel plant of 24 million tonnes per year (MTPA) on Mahakalpada block in Kendrapada district at an investment of Rs 1.02 lakh crore.
Officials said it will be the largest investment in the country and that the integrated AM / NS steel mill will be the largest in India.
A government statement said the mega project will generate direct jobs for 16,000 people and create significant indirect employment opportunities through ancillary and downstream industries and services. The government said the project, for which a memorandum of understanding was signed in March, will be completed in seven years in phases. A high-level committee headed by the Chief Secretary will monitor its progress. Government agencies will provide logistics, infrastructure, power and water utilities, and all permits for the project within a specified time frame.
The state wants to revive steel production
Besides various steel grades with its latest green steel technology, the plant will also produce high value-added steel downstream products. The complex will also produce 18.75 metric tons of cement per year, making it one of the largest cement manufacturing plants in the country and boosting infrastructure development in the region, the government said.
AM / NS will also develop a downstream industrial park to promote micro, small and medium enterprises and help with import substitution. A large number of ancillary manufacturing companies are expected to locate their units in this region to support the huge facility.
Odisha, currently with an installed capacity to produce 30 MT of steel annually, plans to increase production to 100 MT by 2030. In July, the high-level licensing authority headed by the Chief Minister had authorized five steel expansion projects with an investment of Rs 1.46. lakh crore and capacity expansion of around 27.5 MT per year. JSW is building a 12 MTPA project in Jagatsinghpur district for an estimated investment of Rs 50,000 crore.

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