SAIL ArcelorMittal Auto Grade Steel JV May Come Up In Odisha

- May 24, 2018-

Business Standard reported that Odisha is being considered as one of the potential locations for an automotive grade steel plant proposed jointly by ArcelorMittal and Steel Authority of India Ltd (SAIL). As per BS report, SAIL has written to Odisha industries secretary Sanjeev Chopra, evincing interest to locate the auto grade steel facility in the state.

The report said that Mr G Vishwakarma, director (projects & business planning) SAIL wrote to Mr Chopra "The decision of site selection for the proposed unit would be taken based on the advice of relevant experts, and after conducting due diligence taking into account the location, availability of manufacturing inputs, infrastructure and facilities as well as incentives and benefits made available by the respective state government. We appreciate your proposition and would keep Odisha as a prospective site to be considered for the proposed unit.”

Both the joint venture (JV) partners have been scouting for a suitable location for the project. ArcelorMittal and SAIL entered into memorandum of understanding (MoU) in May 2015 to explore the possibility of setting up an auto grade steel manufacturing facility. The size of the deal is estimate at Rs 150 billion. Initial capacity of this plant is envisaged at 1.5 million tonne per annum (mtpa) but it can be expanded to 2.5 mtpa.

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