<article><p class="lead">The government of Odisha has approved Arcelor Mittal Nippon Steel (AM/NS) India's proposal to set up a 24mn t/yr integrated steel plant in the state.</p><p>The steelmaker will produce various grades of steel with its latest green steel making technology and produce high value-added steel downstream products, the Odisha government said in a statement.</p><p>The project will be built at Mahakalpara block of Kendrapara district with an investment of $13.4bn and take about seven years to complete, while providing direct employment opportunities to 16,000 people and significant indirect employment opportunities through ancillary and downstream industries and services.</p><p>AM/NS will also develop a downstream industry park to promote micro, small and medium enterprises and help import substitution, the statement said, adding a large number of ancillary manufacturing companies are expected to put up their units in the region to support the steel making facility.</p><p>This facility will also produce 18.75mn t of cement annually, making it one of the largest cement manufacturing plants in the country.</p><p>Nippon Steel announced its <a href="https://direct.argusmedia.com/newsandanalysis/article/2278485">plans to set up a second steel mill</a> in India under its AM/NS joint venture last month as it aims to capture more of the Indian market.</p><p>AM/NS currently operates a 7.6mn t/yr steel plant in Hazira, Gujarat and aims to double production to 14mn t/yr in the medium term and 18 mn t/yr in the long term. </p><p>Odisha gave in-principle <a href="https://direct.argusmedia.com/newsandanalysis/article/2233997">approval to five major steel projects</a> earlier this year, namely expansion projects of Jindal Steel and Power's Angul plant, Tata Steel's Kalinganagar plant, Bhushan Steel and Power's greenfield plant at Sambalpur among others.</p><p>India aims to reach 300mn t of steelmaking capacity by 2030, of which Odisha targets to contribute about 100mn t. </p><p class="bylines">By Sumita Layek</p></article>
