The Odisha government on Friday approved steelmaker AMNS India's proposal to set up a 24 mtpa integrated steel plant in Kendrapara district at an investment of Rs 1.02 lakh crore, officials said.
The proposal was approved at a meeting of the High-Level Clearance Authority (HLCA), chaired by Chief Minister Naveen Patnaik.
The mega steel complex will be set up in Mahakalpara block of Kendrapara district, officials said.
The project will generate direct employment opportunities for 16,000 persons and create significant indirect employment opportunities through ancillary and downstream industries and services, as per a statement issued by the Chief Minister's Office (CMO).
AMNS India will produce 24 mt of various grades of steel at the plant with its latest green steel-making technology. The company will also produce high value-added steel downstream products at the proposed complex, it added.
Besides, it will also produce 18.75 mt of cement annually, making it one of the largest cement manufacturing plants in the country, which will provide a boost to infrastructure development in the region, the statement said.
AMNS India will also develop a downstream industry park to promote MSMEs and help import substitution, it said.
A large number of ancillary manufacturing companies are expected to set up their units in the region to support the steel-making facility, it added.
AMNS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two foreign entities completed the acquisition of Essar Steel Limited plant at Hazira in Gujarat, and later renamed it as ArcelorMittal Nippon Steel (AMNS) India.
The CMO statement said that modern, green and environment-friendly steelmaking will put Odisha on the world steel map.
The mega project will be completed in seven years in phases, while the logistical infrastructure, power and water utilities, among others, will be provided in a time-bound manner by the government agencies, which will be monitored by a committee chaired by the chief secretary.
"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 persons," the statement said.
With 33 mtpa of steelmaking capacity, Odisha is the largest steel-producing state of the country, it said.
The state government is aiming to augment the capacity to 100 mtpa by 2030, it said.