Bhubaneswar: The high-level committee chaired by Minister of Naveen Patnaik’s Chief of the Arcelor Mittal Nippon Steel (AM / NS) proposal Friday to regulate an integrated factory of 24 million tons per year (MTPA) in the Mahakal Block in the Kendrapada district with an investment from Rs 1.02 Lakh Crore.
This is billed into the largest manufacturing investment of the country and an integrated steel factory AM / NS will be the largest in this country.
A government statement said the Mega project would result in direct employment opportunities for 16,000 and create significant indirect employment opportunities through industry and supporting and downstream services.
The government said the project, where the previous MoU was signed in March, will be completed in seven years in the phase.
The High Power Committee Secretary LED will monitor project progress.
Government agencies will provide logistics infrastructure, electricity and water and all permits for the project in a timely manner.
Apart from various steel values ​​with the latest green steel making technology, it will also produce high-value higher-value steel products.
This complex will also produce 18.75 MT cement every year, making it one of the largest cement manufacturing plants in this country and will increase infrastructure development in the region, the government said.
AM / NS will also develop downstream industrial parks to promote MSMEs and help import substitutions.
A large number of additional manufacturing companies are expected to install their units in this region to support large steel making facilities.
Odisha, currently with the installed capacity to produce 30 mt steel per year to increase production of up to 100 MT by 2030.
In July, the authority of the LED CM high-level permit has cleared five steel expansion projects with an investment of Rs 1.46 lakh.
Crore expansion and capacity of around 27.5 MT per year.
JSW is working on a 12 MTPA project in the Jagatsinghpur district with an estimated investment of Rs 50,000 Crore.
The government said Odisha had received an investment proposal worth Rs 2.70 Lakh Crore in the last 12 months with potential employment opportunities for more than 77,000 people.