ArcelorMittal Nippon Steel India (AM/NS India) Ltd, a joint venture between two of the world’s leading steel companies - ArcelorMittal and Nippon Steel, signed a Memorandum of Understanding (MoU) with Government of Odisha for setting up an Integrated Steel Complex at Kendrapara District in the state. This project will involve more than ₹ 50,000 crore investment. The MoU was signed by Hemant Sharma, Principal Secretary Industries and Dilip Oommen, Chief Executive Officer, AM/NS India, in the presence of Hon’ble Chief Minister Naveen Patnaik and L N Mittal, Chairman, Mittal Group. Prafulla Mallik, Hon’ble Minister Steel & Mines and Works and Atanu Sabyasachi Naik, MLA, Mahakalpara, along with Chief Secretary, Development Commissioner, Principal Advisor to Hon’ble Chief Minister, Secretary to Hon’ble Chief Minister Transformation and Initiatives (5T) and other senior officials of the state Government were also present.

Industrial Promotion and Investment Corporation of Odisha (IPICOL), the single point of contact for all industrial investments in the State, is responsible for devising the investment promotion, facilitation, and aftercare strategy for the state. Furthermore, as the investment promotion agency of the State of Odisha, it undertakes all activities to promote Odisha as the investment destination of choice.

Mentioning Kendrapara as his ‘Karmabhumi’ and an ideal prospect for an Integrated Steel Complex, Hon’ble Chief Minister assured that the state Government will provide all the necessary assistance and facilitation for the setting up of this mega project. He also stated that Odisha has successfully emerged as the most attractive investment destination in the country today because of its forward-looking industrial policy, facilitation mechanism and robust infrastructure growth.

Delighted on the new partnership with the state government, which is in addition to the other investments of AM/NS in Odisha including the 6MTPA pelletization plant in Paradeep which will be expanded to 12 MTPA and the beneficiation complex in Keonjhar and slurry pipeline which are already operational, L N Mittal, Chairman, Mittal Group, further mentioned that he is amazed at the speed of work by the Government of Odisha, which in his opinion is the best he has experienced in his world-wide business experience. He reiterated that AM/NS is committed to partner with the Government of Odisha in the industrial growth journey of the state.

For more information: www.ipicolorissa.com