Bhubaneswar, March 4: The Odisha Government on Thursday signed an MoU with ArcelorMittal Nippon Steel for setting up of a 12 MT integrated Steel Plant in Kendrapara district with an investment of Rs 50,000 crore.
The MoU was signed in the presence of Chief Minister Naveen Patnaik and ArcelorMittal Executive Chairman L N Mittal at the new convention centre of Lokaseva Bhavan here.
“Giving major boost to #InvestInOdisha, #Odisha Govt. has signed an MoU with @AMNSIndia for a 12 million ton integrated steel plant in Kendrapara district with an investment of Rs 50,000 Cr,” tweeted the Chief Minister’s Office.
The development came two days after Mittal met with Union Petroleum and Natural Gas and Steel Minister Dharmendra Pradhan in New Delhi.
The world’s largest steel-maker ArcelorMittal that had, in 2013 backed out of its Keonjhar project, citing land hurdle, signed the fresh MoU with Odisha Government to set up 12 mtpa steel plant in Kendrapara district.