The Government of Odisha on Friday, 17 December, approved a proposal by Arcelor Mittal Nippon Steel (AM/NS), which intends to invest 1 lakh crore in Kendrapara for the establishment of a 24 MTPA integrated steel plant.
"Under the chairmanship of Chief Minister Shri Naveen Patnaik, the 27th meeting of the High-Level Clearance Authority (HLCA) has approved Arcelor Mittal Nippon Steel’s proposal to set up a 24 MTPA integrated Steel Plant at Mahakalpara block of Kendrapara district against an investment of INR 1,02,275 crore," an official statement issued by the state government read.
Touted as the largest manufacturing project in the country, the plant will generate employment opportunities for 16,000 persons in the state and create significant indirect employment opportunities through ancillary and downstream industries and services.
As per the statement issued by the government, the AM/NS will produce 24 MT of various grades of steel with its latest green steel-making technology in the Kendrapara region.
Further, it will also be one of the largest cement manufacturing plants in the country, producing 18.75 MT of cement every year. The firm also aims to develop a downstream industry park for the purpose of promoting MSMEs and aid in importing substitution.
"The infrastructure to be developed for the Kendrapara projects facility will give a boost 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," the statement read.
The proposal seeks to complete the mega project in seven years, during which the logistic infrastructure, power, water utilities and all project clearances will be provided in a time-bound manner by the government agencies overseen by a “High Power Committee”.
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