The first phase of the project will be completed by 2026
AMNS India, a joint venture between ArcelorMittal and Nippon Steel, is building the world’s largest single integrated steel plant in Hazira, Gujarat. This was stated by Lakshmi Mittal, Chairman of the Board of ArcelorMittal, Deccan Herald reports.
According to Mittal, the steel mill will have a capacity to produce 24 million tons of steel per year, with construction to be completed by 2029.
The CEO of ArcelorMittal said that the company had signed a memorandum of understanding with the Gujarat government to build the second phase of the plant. Work on the first phase of the project, which started in 2021, is on schedule and will be completed by 2026.
Mittal did not share an estimate of the total investment in the construction of the new Hazira steel mill. He also said that the corporation is investing not only in steel but also in renewable energy and green hydrogen.
Last January, AMNS India received approval for a $4.7 billion steel plant project from the Odisha government. The plant is expected to have an annual production capacity of 7 million tons. According to the state government, the new plant will create employment opportunities for more than 11,000 people.
As GMK Center reported earlier, in April 2023, AMNS India also received approval from the country’s regulatory body (NCLT) for purchase of the Gujarat-based Indian Steel Corporation, specializing in cold-rolled, galvanized and non-ferrous steel products. The company’s production capacity is 600,000 tons of products per year, it also has a service center on its territory and a stable customer base.