The Odisha government on Thursday signed a memorandum of understanding (MoU) with ArcelorMittal Nippon Steel to set up a steel project of 12 million tonnes per tonne capacity in Kendrapara district at an estimated investment of ₹ 50,000 crore.
Chief Minister Naveen Patnaik and ArcelorMittal Executive Chairman Laxmi N. The MoU was signed in the presence of Mittal.
ArcelorMittal signed an MoU with the Government of Odisha in 2006 for setting up a 12-MT integrated steel plant and a captive power plant at an estimated cost of M 40,000 crore.
However, the project did not take off.
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