Lakshmi Mittal, the Chairman of ArcelorMittal, has announced that the Hazira site of AM/NS India is poised to become one of the world's largest single-location integrated steel plants, boasting a total capacity of 24 million metric tons per annum (MTPA) for crude steel production.
Speaking at the Vibrant Gujarat Summit 2024 in Ahmedabad, Mittal expressed confidence in commissioning the full site within the next five years, thanks to the support from the Gujarat government. He emphasized that ArcelorMittal is not only investing in steel but also venturing into emerging sectors like renewable energy and green hydrogen.
Mittal highlighted the crucial role of steel in a nation's journey towards self-reliance, citing its contributions to various sectors such as infrastructure, urbanization, renewables, automotive (including electric vehicles), defense, and railways.
By integrating cutting-edge global technology, ArcelorMittal aims to develop high-end products, fostering competitiveness for steel consumers across a spectrum ranging from MSMEs to startups.
During the Vibrant Gujarat Global Summit 2024, Mittal announced the signing of Memorandums of Understanding (MoUs) for the second phase of the project. He proudly noted the rapid progress of the expansion project, with Phase 1 expected to be completed by 2026, meeting the set targets.
(With Agency Inputs)
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