Bhubaneswar, Apr 4 (PTI) The Odisha government on Tuesday said Japan-based Nippon Steel along with ArcelorMittal will set up a facility to produce 30 MT of speciality metal in the state.
The announcement comes after Chief Minister Naveen Patnaik met Nippon Steel president Eiji Hashimoto in Tokyo earlier in the day.
“CM@Naveen_Odisha met Eiji Hashimoto, President of Nippon Steel during #OdishaInvestorsMeet in Tokyo and discussed about company’s plan to build one of the world’s largest steel plants in #Odisha along with @ArcelorMittal. The 30 MT plant will produce speciality steel,” the Chief Minister’s Office wrote on Twitter.
Patnaik, who began his tour to Japan on Tuesday to woo investors from there, assured complete support to the proposed plant, which will give a “huge boost to socio-economic development of Kendrapara, Jagatsinghpur, Bhadrak, Jajpur and Keonjhar districts and generate thousands of jobs for youths of Odisha”, the CMO said.
Patnaik also invited Hashimoto and his team to visit Odisha and said that the projects in the pipeline will help a large number of people in the state.
AM/NS India is a joint venture between ArcelorMittal and Nippon Steel.
In March 2021, Gujarat-based AM/NS India had signed a memorandum of understanding (MoU) with the Odisha government to set up a 12-million-tonne per annum integrated steel plant in Kendrapara with an investment of Rs 50,000 crore.
After the Make In Odisha Conclave, 2022 in December, the Odisha government approved a proposal of AM/NS India to set up a 7 mtpa steel plant in Jagatsinghpur with an investment of Rs 38,000 crore.
The joint venture company currently has a 12 mtpa pellet plant at Paradip, which is the country’s largest single-location pellet complex, an 8 mtpa beneficiation facility in Keonjhar and a 250-km slurry pipeline from Keonjhar to Paradip.
Meanwhile, Patnaik, according to the schedule of his Japan tour, will have one-on-one meetings with Japanese companies on Wednesday.
The state government will host the Odisha Business Meet 2023, which is expected to be attended by over 200 industrialists and investors from across Japan and the Indo-Pacific region.
Patnaik will address the investors and showcase the vast existing and emerging business opportunities in Odisha.
On Wednesday evening, he will hold an interactive session with the Odia diaspora in Japan.
Patnaik will also visit Kimitsu Works of Nippon Steel on Thursday.
He is leading a high-level delegation, comprising ministers, bureaucrats and businessmen from the state to explore investment opportunities from the island country in East Asia.
The CMO said the delegation will also hold a round-table discussion in Kyoto on opportunities for collaboration between Japan and Odisha in the tourism sector. PTI AAM ACD BDC BDC
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