arcelormittal: ArcelorMittal set to invest Rs 1.7 lakh crore in Gujarat

AHMEDABAD: ArcelorMittal Nippon Steel India (AM/NS India) on Thursday signed an MoU with the state’s industries department, proposing investment of Rs 1.7 lakh crore in six projects in Gujarat. This includes Rs 40,000 crore in renewable energy, Rs 30,000 crore for development of a ‘steel city’, and an industrial cluster in Surat.
The agreement, part of Vibrant Gujarat Summit 2022, was signed in the presence of CM Bhupendra Patel between AM/NS India CEO Dilip Oommen and additional chief secretary to the department of industries Rajiv Gupta. AM/NS India’s six proposed investment projects include Rs 4,200 crore for expansion and modernisation of the existing captive jetty at Hazira and Rs 45,000 crore to increase the capacity of the 8.6 MMTPA steel plant to 18 MMTPA, according to a statement from the state government. “Rs 30,000 crore has been proposed for expansion with the…

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