Bhubaneswar: The Odisha government approved ArcelorMittal Nippon Steel's (AM/NS) proposal to build an integrated steel mill in the state's Kendrapara area for Rs 1.02 lakh crore, the source quoted.
According to an official announcement, the High-Level Clearance Authority, led by Chief Minister Naveen Patnaik, has approved the proposal for the business to build a 24 million tonnes per annum (MTPA) integrated steel factory in the Mahakalpara block of Kendrapara.
The mega project will employ 16,000 people directly and provide large indirect employment opportunities through ancillary and downstream businesses and services. The approved project is the country's largest in the manufacturing sector. With its latest green steel-making technology, AM/NS will produce 24 MT of various grades of steel at its Kendrapara facility. It will also create downstream steel products with a high added value.
This facility will also manufacture 18.75 MT of cement yearly, making it one of the country's largest cement manufacturing plants, according to the government, and will help the region's infrastructure development.