The big-ticket ArcelorMittal Nippon Steel’s proposed project in Jagatsinghpur district on Thursday received the approval of the high-level clearance authority (HLCA) of Odisha Government.
The proposal of ArcelorMittal Nippon Steel India Limited includes the setting up of seven Million Tonnes Per Annum (MTPA) steel plant in Jagatsinghpur with an investment of Rs 38,000 crore. It is expected to churn out employment opportunities for more than 11,000 people in the state, an official statement issued by the government said.
The ArcelorMittal Group had earlier decided to set up a mega steel project in Keonjhar district in 2014. However, the steelmaker had backed out of the project following protests from local people.
The HLCA held its 30th meeting under the chairmanship of Chief Minister Naveen Patnaik. The organizations who had participated at MIO Conclave 2022 and showed investment intent in the state realized the same with the HLCA committee approving nine such industrial projects worth Rs 1,53,074.63 crore that would generate over 27,030 employment opportunities for the people of Odisha, the officials said.
The state government has always encouraged and welcomed industrialists to invest in the state. Its industry-friendly policies have positioned the state to be a highly lucrative destination for investors who have been awaiting opportunities to step into Eastern India or expand their footprint in the region, the officials added.