Lakshmi Mittal, the executive chairman of ArcelorMittal, announced during the 10th Vibrant Gujarat Global Summit the ambitious endeavor of ArcelorMittal Nippon Steel India (AM/NS India) in constructing the world's largest single-location integrated steel plant in Gujarat's Hazira.
This monumental project aims to yield a capacity of 24 million tonnes of crude steel and is projected to be operational by 2029. Mittal highlighted the company's commitment by revealing the agreement for the plant's second phase, solidifying their partnership with the Gujarat government.
The initial phase, initiated in 2021, is progressing as scheduled and is anticipated to be inaugurated by 2026. Mittal proudly mentioned the 'bhumi puja' or ground-breaking ceremony, graced by Prime Minister Narendra Modi's presence, signifying the auspicious beginning of this project.
Expressing confidence in their collaboration with the state government, Mittal expressed optimism about commissioning the second phase near Surat by 2029. While he didn't disclose the total investment figure for this colossal initiative, Mittal commended Gujarat for its transparent and policy-driven governance, citing steel as a pivotal component for achieving the goal of an Aatmanirbhar Bharat (self-reliant India).
Beyond steel production, Mittal emphasized ArcelorMittal's investments in renewable energy and green hydrogen, reflecting the company's commitment to sustainable practices and diversified ventures beyond the steel industry.
(With Agency Inputs)
