ArcelorMittalNippon Steel India Limited (AM/NS India) on Thursday signed an MoU with the states industries department, proposing of Rs 1.66 lakh crore in six projects inGujarat.
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 chief minister Bhupendra Patel between AM/NS India CEO Dilip Oommen and additional chief secretary to the department of industries Rajiv Gupta. AM/NS Indias six proposed investment projects include Rs 4,200 crore for expansion and modernization 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.
A total of 10GW of renewable power generation Plants at various locations in the state will be set up by ArcelorMittal Nippon Steel with an investment of approximately Rs 40,000 crore, according to the release. This will include hybrid, solar and Wind Energy. An MoU has also been signed for a 2,200MW plant at Kanatalav in Bhavnagar district in the first phase.
AM/NS India is also planning to invest Rs 17,000 crore in another downstream coke project in Hazira, Surat. Approximately 1.80 lakh direct and indirect EMPLOYMENT opportunities will be generated through this. The government of Gujarat will co-operate with ArcelorMittal in accordance with existing policies.