ArcelorMittal Nippon Steel received approval from the high-level clearance authority (HLCA) of the Odisha government to set up a steel plant in Jagatsinghpur with an investment worth Rs 38,000 crore.
The proposed plant is estimated to be approx. seven mln tpa. The project will create employment opportunities for around 11,000 people in the state. The company halted the project previously, which has now received approval.
Likewise, in May 2022, the company completed a fifth Cryogenic Air Separation unit (ASU) project at the Hazira plant in the Surat district of Gujarat on a build-own-operate (BOO) basis.