Steel magnate Lakshmi N Mittal will pay a visit to Kendrapada

Steel magnate Lakshmi N Mittal will pay a visit to Kendrapada

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Aug 21, 2021 - 07:53 Updated: Aug 21, 2021 - 07:53
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Steel magnate Lakshmi N Mittal will pay a visit to Kendrapada

Bhubaneswar: Official sources say ArcelorMittal Executive Chairman Lakshmi N Mittal will visit Kendrapada on Saturday to see the proposed 12MTPA steel factory, which will cost more than Rs 50000 crore to build.

In the presence of Chief Minister Naveen Patnaik and Mittal at Lokseva Bhavan on March 4, the Odisha government and ArcelorMittal Nippon Steel India Limited (AM/NS) inked an MoU for the establishment of an integrated steel complex in the Mahakalapada area of the district.

Mittal will then meet Naveen around 4:30 p.m., according to the sources.

After winning two iron ore mines in Odisha – Thakurani and Sagasahi – the AM/NS revived its prior plan to build a 12 MTPA giant steel mill in the state.

Due to a lack of adequate land and essential licences to mine iron ore, it was forced to abandon a project of similar capacity in Keonjhar district in 2013, with an investment of Rs 40,000 crore and an MoU signed in 2006.