With an expenditure of Rs. 1.02 lakh crore, the steel behemoth Nippon Steel Corporation (NSC) of Japan plans to build the largest steel production facility in the world in Odisha.
Tuesday, during his conversation with Odisha Chief Minister Naveen Patnaik at the Odisha Investors’ Conference in Tokyo, NSC President Eiji Hashimoto made this news.
According to Mr. Hashimoto, “We have planned to set up the largest steel factory project in the world in Odisha.”
The NSC president and his team were invited by the CM to come to Odisha to complete the proposed project.
“I invite you and your team to come to Odisha whenever it’s convenient for you. Your plant will help people in a large area of Odisha,” Naveen told Mr Hashimoto.
Through the L N Mittal-led ArcellorMittal, Nippon Steel has a foothold in Odisha. A joint venture between the two businesses is called (AM/NS).
In the Jagatsinghpur district of Paradip, AM/NS operates a pellet mill.
AM/NS In the Kendrapara district near the Paradip port, India intends to establish a 24-million-tonne per year steel project using environmentally friendly methods. Eventually operational, this will be larger than the Posco steel mill in Gwangyang, South Korea, which holds the title of largest steel project in the world.
According to official sources, the Odisha government is optimistic that the proposed project will create a significant amount of work chances for young people in the districts of Jagatsinghpur, Kendrapara, Cuttack, Jajpur, and Keonjhar.
In addition to constructing a 7 MTPA plant in Paradip for an estimated expenditure of Rs 40,000 crore, AM/NS has already signed a Memorandum of Understanding with the government of Odisha for the establishment of a 12-MTPA steel project.
According to sources in the state government and business sector, both projects will be finished in five years.
According to the sources, Nippon Steel’s Kimitsu project in Japan, which has a dedicated port inside the plant complex, will be modelled after the projected 24-MTPA Kendrapara project.
Prasanta Patnaik