ArcelorMittal to Invest Rs 1 lacs Cr in Gujarat

The Gujarat government informed that the world's leading steel and mining conglomerate ArcelorMittal would invest Rs 1,00,000 crore in different projects in the states, including its steel plant at Hazira near Surat. ArcelorMi

BY Realty Plus
Published - Monday, 23 Aug, 2021

ArcelorMittal to Invest Rs 1 lacs Cr in Gujarat

The Gujarat government informed that the world's leading steel and mining conglomerate ArcelorMittal would invest Rs 1,00,000 crore in different projects in the states, including its steel plant at Hazira near Surat. ArcelorMittal Chairman Lakshmi Niwas Mittal along with the CEO of ArcelorMittal Nippon Steel India (AM/NS India), Dilip Oommen, expressed their commitment to invest ?50,000 crore for the expansion of Hazira-based steel plant. Notably, ArcelorMittal Nippon Steel India had taken over the steel plant from Essar in 2019 following an insolvency proceeding initiated by lender banks. Mittal is also willing to invest another ?50,000 crore in solar energy, wind energy and hydrogen gas production in Gujarat. In all, the group would invest ?1,00,000 core in the near future in Gujarat. Chief Minister Rupani welcomed the decision and assured to provide all necessary help.