The Odisha state government's High-Level Clearance Authority (HLCA) today approved ArcelorMittal Nippon Steel’s (AM/NS) proposal to set up a 24 MTPA integrated Steel Plant in the Mahakalpara block of Kendrapara district at a cost of Rs1.03 lakh crore, an official press release stated.
The release added that the project will generate direct employment for 16,000 people and create "significant indirect employment opportunities through ancillary and downstream industries and services".
The statement said the project will be the largest in the country's manufacturing sector. At the Kendrapara complex, the steelmaker will produce 24 metric tonnes of various grades of steel with its latest green steel making technology. it will also produce high-value added steel downstream products, the statement added.
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The proposed facility will also produce 18.75 MT of cement annually, making it one of the largest cement manufacturing plants in the country; it will boost the infrastructure development in the region, the government said in the press release.
Along with the steel complex, the company will also develop an industrial park to promote MSMEs. "A large number of ancillary manufacturing companies are expected to put up their units in this region to support the huge steel making facility," the statement said.
The government expects the infrastructure to be developed for the facility to give a boost to the logistics and overall development of the region. "This modern, green and environment friendly steelmaking facility will put Kendrapara and Odisha on the world steel map," it said.
"Through this investment, the state government will give push to extensive socio-economic development across the region," the statement said, adding that the project will be completed in phases over seven years.
The government assured the company that it would ensure logistic infrastructure, power and water utilities and clearances are provided in a time-bound manner by government agencies, which will be monitored by a high-power committee headed by the chief secretary.
The statement claimed that with this massive investment, Odisha has garnered investments worth Rs 2.70 lakh crore in the past 12 months, creating potential employment opportunities for over 1.6 lakh people.
"Odisha enjoys the tag of the largest steel-producing state in the country and such projects will further enhance the capacity, to produce 100 MT by 2030," the statement added.
(Edited by : Vijay Anand)
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