ArcelorMittal to invest 2,000cr in Odisha

Bhubaneswar: ArcelorMittal - the world's largest steel-maker - will soon invest around Rs 2,000 crore in Odisha, Lakshmi N Mittal, chairman and chief executive officer of the company, said in a video call with CM Naveen Patnaik on Saturday.
The Rs 2,000 crore will form part of the first tranche of the company's overall investment in Odisha, and will be used mainly for augmenting the capacity of the erstwhile Essar Steel's pellet plant at Paradip and beneficiation plant at Dabuna in Keonjhar, besides development of mines.The state government is hopeful that this portion of the investment will materialise this financial year, said a senior official. ArcelorMittal along with Nippon Steel had taken over the pellet and beneficiation plants from Essar Steel in December last year.