Updated January 10th, 2024 at 12:34 IST

Steel plays big part in Aatmanirbharta of any nation: Lakshmi Mittal

ArcelorMittal will build the world's single biggest steel manufacturing factory at Hazira in Gujarat by 2029, executive chairman said during Vibrant Gujarat'24

Reported by: Business Desk
Lakshmi Mittal | Image:Vibrant Gujarat Summit

Biggest steel plant by 2029: Steel plays a big part in the self-reliance of any country, ArcelorMittal executive chairman Lakshmi Mittal said during his address at the Vibrant Gujarat Summit in Gandhinagar on Wednesday.

The next 20 years are very important for the nation, he also highlighted, while announcing updates on the Hazira Project in the state with a capacity of 24 million tonne crude steel production.


The project, Mittal said, will make the Hazira site one of the world’s biggest single-location integrated steel plants.

“Steel plays a big role in the self-reliance of any nation, because of its immense use in infrastructure development, urbanisation, renewable sectors, automotive industry, electric vehicles, defence,” he said.


The company is bringing global technology on a superior level to develop high-end products, Mittal stated, which is helping startups to SMEs in becoming competitive.    

Gujarat had welcomed ArcelorMittal Nippon Steel India in the state four years ago, he said, wherein the Prime Minister and Chief Minister participated in the foundation stone laying of the Hazira expansion project in 2021.


“I am proud to state that the expansion project is fast expanding and its phase 1 will be completed by 2026,” the UK-based steel magnate said.

He said the company has signed MoUs for the second phase of the project in Vibrant Gujarat 2024,” adding that the project will be concluded in 2029 with a capacity of 24 million tonnes.


He expressed optimism in completing the project in the stipulated 5-year period with government support.

The company also noted its presence and investments in emerging sectors of renewable energy and green hydrogen.


“On the 20th anniversary of the Vibrant Gujarat Summit, the Prime Minister highlighted how ideas and process continuity became the basis of this mega global event with an institutionalised structure,” Mittal said in his address.

He also mentioned the role of One Earth, One Family and One Future in enhancing India’s reputation on global forums, as highlighted by the Prime Minister, and his role in strengthening the voice of the global south on the world level.


He also congratulated Gujarat Chief Minister Bhupendra Patel for development in the state, and attracting investments on the back of a “fair, transparent and policy-driven” government.

My company has witnessed this phenomenon, he added.


Published January 10th, 2024 at 12:34 IST