Bhubaneswar: The high-level committee chaired by the Head of the Head of Naveen Patnaik in the Arcelor Mittal / Nippon Steel proposal (AM / NS) to regulate 24 million tons per year (MTPA) an integrated steel factory in the Mahakal Block in Kendrapada Regency in an investment of Rs 1.02 Lakh Crore.
Officials said it would be the largest investment in the country and the integrated steel factory AM / NS would be the largest in India.
A government statement said the Mega project would result in direct work for 16,000 people and create significant indirect employment opportunities through industry and supporting and downstream services.
The government said the project, where a MoU was signed in March, it will be completed in seven years in the phase.
The Secretary’s High-Power-LED Committee will monitor its progress.
Government agencies will provide logistics, infrastructure, power and water utilities and all permits for projects in sequence.
State plans to increase steel production from various steel values ​​with its newest green steel technology, the factory will also produce high-value steel downstream products.
This complex will also produce tons of cement 18.75 metric every year, making it one of the largest cement manufacturing plants in the country and will increase infrastructure development in the region, the government said.
AM / NS will also develop downstream industrial parks to promote micro, small and medium enterprises and help import substitutions.
A large number of additional manufacturing companies are expected to install their units in this region to support large facilities.
Odisha, currently with an installed capacity to produce 30MT steel every year, targeting to increase production to 100mt in 2030.
In July, the high-level permit authority led by the Minister has cleared five steel expansion projects with an investment of Rs 1.46.
Lakh Crore and expansion capacity of around 27.5 MT per year.
JSW is building a 12 MTPA project in Jagatsinghpur Regency with an estimated investment of Rs 50,000 Crore.