ArcelorMittal Nippon Steel and Odisha Government Sign MOU for Setting Up Mega Steel Plant in Kendrapada

[Ministry of Steel Press Release/05 March 2021]

Minister of Steel and PNG Shri Dharmendra Pradhan has extended his congratulations to steel major ArcelorMittal-Nippon Steel India and Odisha Government for signing an MoU on 4th March, 2021 for setting up a 12 MT integrated steel plant in Kendrapada district of Odisha with an investment of ₹ 50000 crore. “This mega steel plant in Kendrapada will bring a new wave of economic development and employment generation in Odisha and will give boost to Hon’ble Prime Minister Narendra Modi’s vision of Purvodaya and Aatmanirbhar Bharat”, said Minister Pradhan in a statement.

L N Mittal had met Dharmendra Pradhan on 2nd March, 2021 in which the growth of steel industry in India, particularly in eastern India was discussed. Minister Pradhan had earlier launched Mission Purvodaya in steel sector to drive growth of eastern India to make it an integrated steel hub through setting up a steel cluster and greenfield capacity addition. The mission is in line with Hon’ble Prime Minister’s vision of Purvodaya for driving growth of eastern India, and will contribute to achieving National Steel Policy’s envisioned capacity of 300 MTPA by 2030.

Government of India is committed to provide all kind of facilities for setting up of this mega steel plant. The 12 MT steel plant is a culmination of the Government of India’s efforts towards bringing in investors for wealth creation and employment generation through supportive policy reforms such as National Steel Policy as well as facilitative infrastructure. This ArcelorMittal-Nippon mega steel plant in Kendrapada will benefit from massive infrastructure developments in the region over the past six years such as expansion of Paradip port and setting up of Mahanadi riverine port, key freight and passenger rail corridors such as the Paradip-Haridaspur new line, fast-track construction of highways etc. Shri Dharmendra Pradhan expressed gratitude to Hon’ble Prime Minister Narendra Modi for according highest priority to the holistic and business-friendly development initiatives in Odisha.