ArcelorMittal to Build World's Largest Steel Plant in Gujarat

Gandhinagar, Jan 10 (PTI) Lakshmi Mittal on Wednesday announced that ArcelorMittal Nippon Steel India (AM/NS India) is building the world's largest single-location integrated steel plant at Gujarat's Hazira.

Mittal, the executive chairman of global steel major ArcelorMittal, which operates the JV in India with Japan's Nippon, said the plant will have a capacity of producing 24 million tonne of crude steel and should be ready by 2029.

Speaking at the 10th Vibrant Gujarat Global Summit here, Mittal said the company has signed an agreement for the second phase of the plant with the Gujarat government at the event.

Work on the first phase of the project, which started in 2021, is going on as per schedule, and the first phase will be inaugurated by 2026, he said.

The 'bhumi puja' or ground-breaking for the plant was done in the presence of Prime Minister Narendra Modi, Mittal said.

He exuded confidence that with the state government's cooperation, the company will be able to commission the second phase of the project near Surat by 2029.

Speaking to reporters later, the steel tycoon declined to quantify the investments to build the facility at Hazira, which he had earlier claimed to be the world's largest single-location integrated steel plant when it will be ready.

He said the investment will be "very large" if one has to go by the intent in the MoU signed, but was quick to add that it all depends on the execution now.

Mittal said Gujarat has fair, transparent and policy-driven governance and added that steel is very important for achieving the goal of Aatmanirbhar Bharat.

Not just steel, ArcelorMittal is investing in renewable energy and green hydrogen as well, Mittal said.