ArcelorMittal Nippon Steel India (AM/NS India) is set to commence the construction of its 7 million tonne (MT) greenfield steel plant in Paradeep, Odisha, by December or January, as confirmed by Hemant Sharma, the Industries Secretary of Odisha.
Through a collaboration between global steel giants ArcelorMittal and Nippon Steel, two greenfield plants are being explored in Odisha: a 12 MT plant in Kendrapara district and a 7 MT facility in Paradeep.
In its recent financial result announcements, ArcelorMittal, holding a 60% equity stake in AM/NS India, reported progress in preparations for integrated steel plant (ISP) projects in Paradeep and Kendrapara. Environmental clearance applications have been submitted for both sites.
Currently expanding its operations in Hazira, Gujarat, AM/NS India aims to enhance capacity from 9 to 15 MT by 2026.
Odisha secured various investment proposals at the Make in Odisha investor summit last year, totaling Rs 10.5 trillion. Sharma revealed that the state received 741 investment intents, with around 150 currently undergoing approval via the single-window process. These proposals are estimated to yield investments ranging from Rs 4 to 4.5 trillion. He shared these insights during an interactive session organized by EEPC India.
Due to its abundant high-grade iron ore and coal deposits, Odisha remains a magnet for steel companies. Many major steel firms are pursuing expansion within the state, considering both brownfield and greenfield options.