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Updated January 10th, 2024 at 22:31 IST

ArcelorMittal making world's largest single-location integrated steel plant: Lakshmi Mittal

With 24 million tonne crude steel production capacity, the plant is likely to be ready by 2029.

Business Desk
Lakshmi Mittal
Lakshmi Mittal | Image:Vibrant Gujarat Summit
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Steel tycoon Lakshmi Mittal on Wednesday said that ArcelorMittal Nippon Steel India (AM/NS India) is building the world's largest single-location integrated steel plant, to be located at Gujarat's Hazira.  Mittal, the Executive Chairman of global steel major ArcelorMittal, which operates the joint venture (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.

Addressing business leaders 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.

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The 'bhumi puja' or ground-breaking for the plant was done in the 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.

Speaking to media persons later, the steel tycoon declined to quantify the investments to build the facility at Hazira, which he had earlier claimed to be the world's largest single-location integrated steel plant when it will be ready. Mittal said the investment will be "very large" if one has to go by the intent in the MoU signed, but was quick to add that it all depends on the execution now. Mittal said Gujarat has 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. 

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(With PTI inputs)  

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Published January 10th, 2024 at 22:31 IST

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