Japanese Company Commits to Building the World's Biggest Steel Plant in Odisha
- 05-Apr-2023 3:16 PM
- Journalist: Nicholas Seifield
New Delhi: According to a statement made by NSC's President Eiji Hashimoto to the Chief Minister of Odisha, Naveen Patnaik, on Tuesday in Tokyo, the corporation intends to construct the world's biggest Steel plant in Odisha.
Arcelor Mittal and Nippon Steel's joint venture in India, AMNS India, has announced their plan to invest Rs. 1.02 lakh crore in building a 24 million tonnes per annum Steel plant. The plant will be equipped with state-of-the-art technologies for sustainability and will be in Kendrapada. Once completed, the Steel plant will be bigger than the world's largest Steel mill, Posco's 23 MTPA Steel mill in Gwangyang, South Korea.
The AMNS project is expected to make a significant impact in Kendrapada, Jagatsinghpur, and Keonjhar, with additional benefits extending to the districts of Cuttack, Jajpur, and Bhadrak as a result of the investment.
AMNS India has recently signed an MoU with the state for a 12MTPA plan which involves a huge investment of Rs 50,000 crore. Not stopping at that, it has also announced plans to double the capacity to 24MTPTA with an additional investment of more than Rs 52,000 crore. Furthermore, they will also be setting up a new plant in Paradip with a capacity of 7MTPA which will require an investment of over Rs 40,000 crore.
According to government sources, the AMNS plant in Kendrapada is expected to be up and running within the next five years. The plant aims to replicate the renowned Kimitsu Steel plant of NSC, which is widely celebrated as one of the world's top Steel production units, complete with a dedicated port within the plant for trading purposes. On Thursday, a visit to the Kimitsu plant has been scheduled for further insights, led by Naveen and his team.
Naveen and Hashimoto's recent conversation delved into the emerging trends and strategies in the Steel industry, the burgeoning global interest in revolutionary Steel products, and the possibility of positioning Odisha as a leading Steel export hub worldwide.
