ArcelorMittal Group to infuse Rs 20,000 cr in Gujarat
Investment will be for further expansion of capacity enhancement
The ArcelorMittal Group will infuse Rs 20,000 crore on capacity expansion and infrastructure in Gujarat.
The investment will be for further expansion of capacity enhancement in terms of land availability, captive port, railway connectivity, and incentive structure for mega investments.
There are also ongoing expansion investments of Rs 5,000 crore to take Essar steel plant capacity to 8.6 million tpa. ArcelorMittal and its partner Nippon Steel acquired Essar Steel by paying Rs 50,000 crore in December 2019 following a favourable order by the Supreme Court.
Besides the integrated plant in Hazira, Essar Steel also has a six million tpa pellet plant in Paradip. AMNS is a port-based steel plant in India, thus captive port’s uninterrupted operations are essential.