Odisha CM Talks to LN Mittal: Arcellor Mittal, Nippon Steel to Invest 2000 Crore in First Phase

Samikhsya Bureau

Bhubaneswar, Arcellor Mittal group chairman Shri Laxmi Niwas Mittal today spoke to Chief Minister Shri Naveen Patnaik over video conference from London on the issue of investment in Odisha.

Shri Mittal at the outset thanked CM Naveen Patnaik for Odisha Govt\’s deft handling of Covid crisis. While the entire global economy has been seriously affected by Covid 19, the effort of Odisha Govt to revive industries is appreciable, Shri Mittal said and he thanked the CM for the support to industries sector. Shri Mittal added that the kind of transparency maintained in the process of auctioning of two mines, namely Sagasahi and Thakurani, which was bagged by his company, has set a new global benchmark.

Arcellor Mittal and Nippon Steel have acquired Rs 50 thousand Crore Essar Steel in last December as per the direction of Supreme Court. This has resulted in a direct investment of 7 billion US dollars in India, which is one of the largest foreign investments in India. Arcellor Mittal and Nippon Steel have a pellet plant in Paradeep, and a beneficiation plant at Dabuni in Keonjhar, besides having the two mines at Sagasahi and Thakurani.

CM Shri Naveen Patnaik advised Shri Mittal to go for value addition of the minerals from Odisha. Besides creating jobs, It would boost the state economy, the CM added. The state government would provide all the support needed in this direction, the CM assured.

It may be informed here that decision has been made to enhance the capacity of pellet plant at Paradeep from 6 MTPA to 12 MTPA. Besides, the capacity of beneficiation plant at Dabuna will be enhanced from 5 MTPA to 16 MTPA. Arcellor Mittal and Nippon Steel will Invest Rs 2 thousand crore for these projects in Odisha in the first phase.