https://sputniknews.in/20240110/india-slated-to-obtain-worlds-largest-steel-manufacturing-site-by-2029-arcelormittal-6153989.html
India Slated to Obtain World's Largest Steel Manufacturing Site by 2029: ArcelorMittal
India Slated to Obtain World's Largest Steel Manufacturing Site by 2029: ArcelorMittal
Sputnik India
Executive Chairman of ArcelorMittal Lakshmi Mittal on Wednesday said that Hazira in Gujarat is on track to become the world's largest steel plant facility by 2029.
2024-01-10T19:19+0530
2024-01-10T19:19+0530
2024-01-10T19:19+0530
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Executive Chairman of ArcelorMittal Lakshmi Mittal on Wednesday said that Hazira in Gujarat is on track to become the world's largest steel plant facility by 2029.In October 2022, ArcelorMittal arm ArcelorMittal Nippon Steel (AMNS) India announced an investment of around INR 600 billion ($7.22 billion) to enhance the capacity of 15 MT Hazira steel plants. It is estimated that the plant aims to provide job opportunities to 60,000 people.In 2019, Nippon Steel and ArcelorMittal acquired the Essar Steel Limited plant located in Hazira and renamed it ArcelorMittal Nippon Steel (AMNS) India. The plant was inaugurated by Narendra Modi in 2021.
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India Slated to Obtain World's Largest Steel Manufacturing Site by 2029: ArcelorMittal
Deexa Khanduri
Sputnik correspondent
Steel baron Lakshmi Mittal has declared his ambition to elevate India's crude steel capacity to approximately 300 tonnes within the next 9-10 years, effectively doubling the current figure of 154 tonnes.
Executive Chairman of ArcelorMittal Lakshmi Mittal on Wednesday said that Hazira in Gujarat is on track to become the world's largest steel plant facility by 2029.
"The first phase of the steel manufacturing site will be completed by 2026, whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029. Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel, making it the world's largest steel manufacturing site," Mittal said, addressing the ongoing Vibrant Gujarat Global Summit (VGGS) 2024.
In October 2022, ArcelorMittal arm ArcelorMittal Nippon Steel (AMNS) India announced an investment of around INR 600 billion ($7.22 billion) to
enhance the capacity of 15 MT Hazira steel plants. It is estimated that the plant aims to provide job opportunities to 60,000 people.
In 2019, Nippon Steel and ArcelorMittal acquired the Essar Steel Limited plant located in Hazira and renamed it ArcelorMittal Nippon Steel (AMNS) India. The plant was inaugurated by Narendra Modi in 2021.
