ArcelorMittal To Invest Rs 1 Lakh Crore In Gujarat In Areas Of Steel Making, Hydrogen Production And Renewable Energy

[Surya 1]

Betting big on Gujarat and its prospects, the world's leading steel and mining sector behemoth, ArcelorMittal is set to invest as much as Rs 1 lakh crore in the state in areas like steel making, solar energy, wind energy and hydrogen production, reports Economic Times.

The details were shared by Gujarat Government in a press release which was issued after ArcelorMittal's chairman Lakshmi Niwas Mittal called upon Chief Minister (CM) Vijay Rupani at Gandhinagar on Friday (20 August).

Mittal was also accompanied by Dilip Oommen who serves as the chief executive of ArcelorMittal Nippon Steel India (AM/NS India) which operates a major steel plant in state's Hazira. The said plant had been taken over from Essar in 2019 following an insolvency proceeding.

During the meeting, Mittal expressed his commitment to invest Rs 50,000 crore to expand the aforementioned steel plant. He also expressed willingness to invest another Rs 50,000 crore in solar and wind energy and hydrogen gas production in the state.9

Welcoming Mittal's commitments, CM Rupani assured to provide all necessary help.

ArcelorMittal To Invest Rs 1 Lakh Crore In Gujarat In Areas Of Steel Making, Hydrogen Production And Renewable Energy

Betting big on Gujarat and its prospects, the world's leading steel and mining sector behemoth, ArcelorMittal is set to invest as much as Rs 1 lakh crore in the state in areas like steel making, solar energy, wind energy and hydrogen production, reports Economic Times

swarajyamag.com

Arecllor Mittal has already invested about 7Bn USD in Gujarat. They are planning to Invest another 14 bn USD.

 

[SMX 3.0]

Let's not post news of investment commitments until the projects break ground. Especially with the case of newcomers to India like AM/NS- I wouldn't have said this if it was Tata steel or JSW.

That said their present plant in Hazira is quite good. The entire industrial area around Hazira itself is quite unmatched in the subcontinent with its heavy industries.

 

[Surya 1]

Let's not post news of investment commitments until the projects break ground. Especially with the case of newcomers to India like AM/NS- I wouldn't have said this if it was Tata steel or JSW.

That said their present plant in Hazira is quite good. The entire industrial area around Hazira itself is quite unmatched in the subcontinent with its heavy industries.

Why not? They have already invest a big amount. This is their expansion plan. Work has already begun.