MTPA Project In Odisha

MTPA Project In Odisha

Bhubaneswar: Odisha Government today signed an Memorandum of Understanding (MoU) with ArcelorMittal Nippon Steel India (AM/NS) for setting up of a 12 MTPA integrated steel plant in Kendrapada district.A whopping Rs 50, 000 crore will be invested in the project, official sources said.The MoU was signed in the presence of Chief Minister Naveen Patnaik and ArcellorMittal Chairman LN Mittal at Lokaseva Bhavan here. Earlier in the day, Mittal met the CM at the latter’s residence (Naveen Niwas) and discussed about the project.Commenting on the development, MSME Minister Captain Dibya Shankar Mishra said, “The project will create job opportunities in the state on a large scale. Odisha shares 52 per cent of the total bauxite,  33 per cent of iron ore and 25 per cent of coal produced in  the country.  The agreement between the Odisha Government and Mittal is a major achievement during the COVID-19 pandemic and an attempt to boost the state’s economy. And it is a matter of proud that Odisha has left Maharashtra behind in terms of investment.”On March 2, ArcelorMittal Chairman LN Mittal and CEO Aditya Mittal had met Union Steel and Mines Minister Dharmendra Pradhan at his Delhi residence and held discussions on ways to develop Odisha as an international hub for steel sector and capacity expansion of the company in the state.