Steel and renewable energy are among priorities for ArcelorMittal’s investment in Gujarat

ArcelorMittal plans to an investment of INR 1,00,000 crore in Gujarat for its steel plant expansion as well as in renewable energy segments.

An official release from the Gujarat government said that the world’s leading steel and mining conglomerate ArcelorMittal plans to invest INR 1,00,000 crore in various projects in Gujarat, including expansion of its steel plant in Hazira near Surat along with renewable energy segments.

As per the release, ArcelorMittal Chairman, Lakshmi Niwas Mittal and CEO of ArcelorMittal Nippon Steel India (AM/NS India), Dilip Oommen, met Gujarat Chief Minister, Vijay Rupani at Gandhinagar.

In the meeting, Mittal stated that he is interested in investing INR 50,000 crore towards the expansion of its steel plant at Hazira. AM/NS India acquired the steel plant in 2019 from Essar after lender banks initiated an insolvency procedure.

In addition, the group is also planning to invest another INR 50,000 crore in the renewable energy segment including solar energy and wind energy as well as will also be looking into the production of hydrogen gas in Gujarat, the release further stated.

According to the press release, the Chief Minister welcomed the decision of ArcelorMittal’s INR 1,00,000 crore investment planned in Gujarat and promised to provide all necessary assistance.

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