Ahmedabad: ArcelorMittal Nippon Steel India (AM / NS India) on Thursday signed the MoU with the State Industry Department, proposing an investment of Rs 1.7 Lakh Crore in six projects in Gujarat.
These include Rs 40,000 Crore in renewable energy, Rs 30,000 Crore for the development of ‘steel town’, and an industrial cluster in the letter.
The agreement, part of the vibrant Gujarat Summit 2022, was signed before the CM Bhupendra Patel between AM / NS India CEO of Dilip Oommen and an additional head secretary for the Department of Industry Rajiv Gupta.
AM / NS six proposed investment projects include Rs 4,200 Crore for expansion and modernization of prisoners in Hazira and Rs 45,000 Crore to increase the capacity of steel mills 8.6 mmtpa to 18 MMTPA, according to statements from the state government.
“Rs 30,000 Crore has been proposed for expansion with captive port capacity to green steel factories in Suvali in Surat, as well as Rs 30,000 Crore for ‘City Steel City and Industrial Cluster’ in Pigibet, Letter,” he said.
As many as 10GW a renewable power plant plant in various locations in the state will be arranged by Steel Nippon ArcelorMittal with an investment around Rs 40,000 Crore, according to the release.