Nippon Steel to set up worlds biggest steel project in Odisha
Odisha chief minister Naveen Patnaik with Nippon Steel Corporation president Eiji Hashimoto in Tokya during an investors meet
BHUBANESWAR: Japan’s steel behemoth Nippon Steel Corporation (NSC) has announced its plan to set up the world’s largest steel plant facility in Odisha with an investment of Rs 1.02 lakh crore.
This announcement was made on Tuesday by NSC president Eiji Hashimoto in Tokyo on Tuesday during his interaction with Odisha chief minister Naveen Patnaik on the occasion of Odisha Investors’ Meet.
“We have planned to set up the world’s largest steel plant project in Odisha,” declared Mr Hashimoto.
The CM invited the NSC president and his team to visit Odisha finalisation of the proposed project.
“I invite you and your team to come to Odisha whenever it’s convenient for you. Your plant will help people in a large area of Odisha,” Naveen told Mr Hashimoto.
Nippon Steel has its presence in Odisha with L N Mittal-led ArcellorMittal. Both the companies have formed a joint venture called (AM/NS).
AM/NS has a pellet plant at Paradip in Jagatsinghpur district.
AM/NS India is planning to set up a 24-million-tonne per annum steel project with sustainable technologies in Kendrapara district near Paradip port. Once grounded, this will be bigger than South Korea’s Posco steel plant at Gwangyang which enjoys the status of the biggest steel project of the world.
The Odisha government, according to official sources, is optimistic about the proposed project generating huge employment opportunities for youths in Jagatsinghpur, Kendrapara, Cuttack, Jajpur and Keonjhar districts.
AM/NS has already entered into a Memorandum of Understanding with the Odisha government for setting up a 12-MTPA steel project at an estimated investment of Rs 50,000 crore, besides building another 7 MTPA plant at Paradip entailing an investment of Rs 40,000 crore.
Sources both in the state government and industry sector said both the projects would be commissioned in five years.
The sources added that the proposed 24-MTPA Kendrapara project will replicate Nippon Steel’s Kimitsu’s project in Japan which has got a dedicated port inside the plant facility.
