Steel Plant talks

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Following is from https://sambadenglish.com/mittal-steel-p...in-odisha/ .

Mittal Steel Plans 12 MTPA Project In Odisha
ODISHA LATESTTOP
By Sambad English Bureau On Mar 4, 2021

Odisha Government today signed a Memorandum of Understanding (MoU) with ArcelorMittal Nippon Steel India (AM/NS) for setting up of a 12 MTPA integrated steel plant in Kendrapada district.

A whopping Rs 50, 000 crore will be invested in the project, official sources said.

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On March 2, ArcelorMittal Chairman LN Mittal and CEO Aditya Mittal had met Union Steel and Mines Minister Dharmendra Pradhan at his Delhi residence and held discussions on ways to develop Odisha as an international hub for steel sector and capacity expansion of the company in the state.

In June last year, the company had announced an investment of Rs 2,000 crore in Odisha.

AM/NS, a joint venture between ArcelorMittal and Japan’s Nippon Steel, had acquired debt-laden Essar Steel in an insolvency resolution process overseen by National Company Law Tribunal (NCLT). It was Essar Steel that bagged the first ever iron ore mine auctioned in the country in Odisha- Ghoraburhani-Sagasahi mine endowed with 99.59 million tonne deposits.

The mine containing high grade iron ore reserves is meant to feed the integrated steel plant at Hazira. Odisha Government had issued the Letter of Intent (LoI) for developing the iron ore mine. As per initial plan, 7.16 million tonne was to be extracted every year. The block is at G2 exploration stage and located in Koira of Sundargarh district.

Later, AM/NS India successfully bid for Thakurani iron mine at e-auctions of lapsing merchant mine blocks in Odisha, quoting a premium in upwards of 100 per cent. The Thakurani mine straddling a lease area of 228.04 ha, possesses 180 million tonne of iron ore. It has permits to mine 5.5 million tonne per annum.

With this acquisition by Essar Steel , AM/NS owns six million tonne pellet complex at Paradip backed by 12 million tonne beneficiation plant at Dabuna (Keonjhar), both facilities in Odisha connected by a slurry pipeline.