ArcelorMittal Nippon to Build $13 Billion Steel Plant in India
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ArcelorMittal Nippon Steel India Ltd. has received approval from the Odisha state government to set up a $13 billion, 24 million tons-a-year steel plant, a doubling of investment and capacity from an initial proposal in March.
The Kendrapara complex will produce steel using the latest green steel-making technology and will also produce high value-added downstream products, the Odisha government’s investment promotion body said in a statement after a meeting chaired by Chief Minister Naveen Patnaik. The project will be completed in phases in seven years, it added.