- The steel baron said that the first phase of the steel manufacturing site will be completed by 2026 whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029
- Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel
- The announcement comes as part of the company’s commitment to contributing significantly to India’s Atmanirbhar Bharat journey
R ARIVANANTHAM
GANDHINAGAR, JAN 11
Lakshmi Mittal, the chairperson of steel manufacturing corporation ArcelorMittal, on Wednesday announced that the company will build the world’s single largest steel manufacturing site at Gujarat’s Hazira by 2029. Mittal was addressing the ongoing Vibrant Gujarat Global Summit (VGGS) 2024 while making the announcement.
The steel baron said that the first phase of the steel manufacturing site will be completed by 2026 whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029. Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel, making it the world’s largest steel manufacturing site.
During the event Lakshmi Mittal, Chairman, ArcelorMittal said, “Hazira expansion was inaugurated by PM in 2021. Phase one will be completed by 2026, 2nd phase MoU signed, will be completed by 2029 and will produce 24 mn tonnes steel and it will become the world’s biggest plant.”
“Steel is one of the primary contributors to any nation’s journey towards self-reliance. At the heart of Atmanirbharta, is steel which supports a range of applications across sectors such as infrastructure, urbanisation, renewables, automotive including electric vehicles, defence, and railways. By bringing the best of global technology, we are developing high end products which helps steel consumers across MSMEs to start-ups to become competitive,” Lakshmi Mittal added.
He further added “Gujarat welcomed ArcelorMittal Nippon Steel India four years ago, and with the support of the Gujarat government, we are confident in completing the entire Hazira site by 2029. Our commitment extends beyond steel, with investments in emerging sectors like renewable energy and green hydrogen. ”
The announcement comes as part of the company’s commitment to contributing significantly to India’s Atmanirbhar Bharat journey. The announcement marks a significant stride towards bolstering India’s steel production capacity and supporting the nation’s economic growth.
