Arcelormittal Invests On Infrastructure & Expansion in Gujarat

ArcelorMittal Group will invest Rs 20,000 crore on capacity expansion and infrastructure in Gujarat, the European steelmaker's chairman Lakshmi Mittal said. The investment will be for further expansion of capacity enhancement in terms of land availability, captive port, railway connectivity, and incentive structure for mega investments, Mittal told Gujarat chief minister Vijay Rupani in a videoconference.“There are also ongoing expansion investments of Rs 5,000 crore to take Essar steel plant capacity to 8.6 million tonnes per annum,” he said. Besides the integrated plant in Hazira, Essar Steel also has a 6-mtpa pellet plant in Paradip. ArcelorMittal and its partner Nippon Steel acquired Essar Steel by paying Rs 50,000 crore in December 2019 following a favourable order by the Supreme Court in one of the biggest foreign direct investments in the steel industry. During the interaction with Rupani, Mittal also said ArcelorMittal Nippon Steel India (AMNS) has returned to 100% capacity.