ArcelorMittal Nippon Steel India inks pact with Odisha to set up Rs 50,000 crore steel plant

Bhubaneswar: Steelmaker ArcelorMittal Nippon Steel India (AM/NS India) Thursday inked an agreement with the Odisha government for setting up a 12 mtpa integrated steel plant in Kendrapada district with an investment of Rs 50,000 crore, officials said.

Chief Minister Naveen Patnaik and steel tycoon Lakshmi Mittal were present during the signing of the Memorandum of Understanding (MoU) at Lokaseva Bhavan.

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Mittal met Patnaik at his residence Naveen Niwas earlier in the day and discussed his company ArcelorMittal’s projects in the state, an official said.

The industrialist had met Union Steel Minister Dharmendra Pradhan in New Delhi Tuesday.

PTI