ArcelorMittal Nippon Steel India Ltd signs MoU with Govt of Gujarat for Rs. 1,66,000 crore proposed investment

Gandhinagar: ArcelorMittal Nippon Steel India Ltd has signed Memorandums of Understanding (MoUs) with the Government of Gujarat for Rs. 1,66,000 crore proposed investment.

The MoUs are signed for six proposed projects that include, Rs. 4200 crore expansion and modernization of existing captive jetty, Rs. 45,000 crore expansion of existing 8.6 MMTPA steel manufacturing plant to 18 MMTPA capacity, Rs. 30,000 crore expansion of green steel plant with captive capacity at Suvali in Surat and Rs. 30,000 crore steel city and industrial cluster at Kidiabet in Surat.

The proposed projects also include 10 GW renewable power generation plant with an investment of Rs. 40,000 crore including hybrid, solar and wind energy plants. In the first phase, a 2200 MW plant will be set up at Kana Talav in Bhavnagar district.

The proposed projects also include a downstream, coke ovan project worth Rs. 17,000 crore investment. When functional, all these plants under the MoUs will offer direct and indirect employment to about 1.80 lakh people.

The Government of Gujarat will extend cooperation to the company for timely start of the project and grant of various approvals as per the policies and rules. The MoU ceremony was held in presence of the Chief Minister.

These details were shared by the State government in a note. DeshGujarat