Lakshmi Mittal on Wednesday announced that ArcelorMittal Nippon Steel India (AM/NS India) is building the world's largest single location integrated steel plant at Gujarat's Hazira. Mittal, the executive chairman of global steel major ArcelorMittal which operates the JV in India with Japan's Nippon, said the plant will have a capacity of producing 24 million tonne of crude steel, and should be ready by 2029.
Speaking at the 10th Vibrant Gujarat Global Summit, Mittal said the company has signed an agreement for the second phase of the plant with the Gujarat government at the event. Work on the first phase of the project, which started in 2021, is going on as per schedule and the first phase will be inaugurated by 2026, he said.
The 'bhumi puja' or ground-breaking for the plant was done in presence of Prime Minister Narendra Modi, Mittal said. He exuded confidence that with the state government's cooperation, the company will be able to commission the second phase of the project near Surat by 2029.
The steel tycoon, however, did not share an estimate of the overall investments in building what he termed the world's largest single location integrated steel plant at Hazira.
Mittal said Gujarat has a fair, transparent and policy driven governance and added that steel is very important for achieving the goal of Aatmanirbhar Bharat. Not just steel, ArcelorMittal is investing in renewable energy and green hydrogen as well, Mittal said.
On Wednesday, Prime Minister Narendra Modi kicked off the 10th edition of the Vibrant Gujarat Global Summit in Gandhinagar. Several global leaders like the UAE President Mohamed bin Zayed Al Nahyan and business icons like Gautam Adani, Mukesh Ambani, and Lakshmi Mittal, among others were present at the event.
The theme of this year’s summit is 'Gateway to the Future' and includes the participation of 34 partner countries and 16 partner organisations. The summit is also being used as a platform by the Ministry of Development of the North-Eastern Region to showcase investment opportunities in the North-Eastern regions.