PM Modi likely to lay foundation of ArcelorMittal's Hazira plant expansion project on Friday

Source: Reuters

Prime Minister Narendra Modi is likely to perform the groundbreaking ceremony and lay foundation stone of ArcelorMittal's Hazira steel plant expansion project on Friday in Gujarat, sources said.

According to the sources, "PM Narendra Modi is the chief guest for the Bhoomi Pujan for AMNS India's Hazira plant expansion project on October 28, 2022."

Besides PM, Union Steel Minister Jyotiraditya Scindia, Gujarat Chief Minister Bhupendra Patel, and ArcelorMittal's Executive Chairman Lakshmi Mittal and CEO Aditya Mittal will be attending the event, they said on Wednesday. Government and company officials are also expected to attend the event, the sources added.

AMNS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two foreign entities completed the acquisition of the Essar Steel Limited plant located at Hazira, and later renamed it to ArcelorMIttal Nippon Steel (AMNS) India. On October 6, steel maker AMNS said it has received environmental clearance for the expansion of the plant located in Hazira, about 275 kilometres from state capital Ahmedabad.

As per the plan, the annual steel making capacity scaled up to 15 million tonnes (MT) from 9 MT at present.