By Bizodisha Bureau, Bhubaneswar, March 04, 2021: Odisha and ArcelorMittal Nippon Steel India Limited Thursday signed a MoU for setting up an Integrated Steel Complex in Kendrapara District. This project will entail in investment of more than Rs. 50,000 crore.

ArcelorMittal Nippon Steel is one of the largest steel makers of the world and combines the financial might of the LN Mittal Group including their international presence in the sector and the technological prowess and management strength of Nippon Steel, which is a Japanese company renowned in the world for its high-technology steel products.

The MoU was signed by the Hemant Sharma, Principal Secretary Industries and Dilip Oommen, Chief Executive Officer, AM/NS India in the presence of Chief Minister Naveen Patnaik and L N Mittal, Chairman of the Mittal Group.

Chief Minister said, Kendrapara was the Karmabhumi of Biju Babu and he loved the place and its people from the core of his heart. He also stated that Kendrapara provides ideal prospects for an Integrated Steel Complex and the state Government will provide all the required support and facilitation for the setting up of this mega project. He also reiterated that Odisha has successfully emerged and the most attractive investment destination in the country today because of its forward looking industrial policy, facilitation mechanism and robust infrastructure growth.

Mr. Mittal mentioned that he is very happy to partner with Government of Odisha in setting up this integrated steel complex at Kendrapara, which is in addition to the other investments of AM/NS in Odisha including the 6MTPA pelletization plant in Paradeep which will be expanded to 12 MTPA and the beneficiation complex in Keonjhar and slurry pipeline which are already operational.