InvestorQ : Why has Arcelor Mittal committed to invest Rs.20,000 crore in the state of Gujarat?
Anu Biswas made post

Why has Arcelor Mittal committed to invest Rs.20,000 crore in the state of Gujarat?

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Neelam Naik answered.
3 months ago
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Arcelor Mittal plans to expand its capacity at its Hazira Plant with an additional investment of Rs.20,000 crore. It may be recollected that Arcelor Mittal and Nippon Steel had acquired bankrupt Essar Steel for a consideration of Rs.50,000 crore. This was purchased by the consortium from the NCLT, where Essar Steel had been referred after default.

Arcelor Mittal has already committed Rs.5000 crore to enhance the Hazira plant capacity to 8.6 MT per annum. The investment of Rs.20,000 crore will be on enabling infrastructure. This would largely include land availability around existing operations, captive port facility, railway connectivity, incentive structure for mega investments etc.

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