Bhubaneswar: A memorandum of understanding to set up a mega steel plant in Kendrapada district was signed between ArcelorMittal and Odisha Government on Thursday.
The MoU was signed in the presence of Chief Minister Naveen Patnaik at the Lok Sabha Bhawan.
According to the MoU, the steel major will invest Rs 50,000 crore to set up the steel plant with an annual production of 12 million tonne.
Prior to the signing of MoU, the steel tycoon Laxmi Niwas Mittal had a meeting with the Chief Minister at Naveen Nivas. He also had a meeting with Union Minister Dharmendra Pradhan in New Delhi two days back.
It may be mentioned that ArcelorMittal had proposed to set up a mega steel plant in Keonjhar district in 2017. However, it withdrew the proposal later.
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