ArcelorMittal’s chairperson, Lakshmi Mittal, declared on Wednesday that the company will construct the Largest Steel Manufacturing facility in the world by 2029 at Hazira, Gujarat. While making the news, Mittal was speaking at the ongoing Vibrant Gujarat Global Summit (VGGS) 2024.

Details on according to Lakshmi Mittal, ArcelorMittal plans to construct the largest steel manufacturing facility in the world at Hazira by 2029

According to the steel baron, the Steel Manufacturing site’s first phase will be finished by 2026 and its second phase, designated by a Memorandum of Understanding (MoU), by 2029. When the additional manufacturing facility is put into service, it will be the largest steel manufacturing site in the world, producing about 24 million tonnes (MT) of steel.

“The PM launched the Hazira extension in 2021. Phase one will be finished by 2026, and phase two, which would manufacture 24 million tonnes of steel and be the largest plant in the world, will be completed by 2029, according to the Memorandum of Understanding signed at the summit by Lakshmi Mittal.

According to company chairman Aditya Mittal, ArcelorMittal’s Indian branch ArcelorMittal Nippon Steel (AMNS) stated in October 2022 that it will invest about Rs 60,000 crore to expand the steel plant’s capacity to 15 MT. The investment was made to increase product mix, build up state-of-the-art machinery, and install new steel manufacturing technologies.

The post According to Lakshmi Mittal, ArcelorMittal plans to construct the largest Steel Manufacturing Facility in the world at Hazira by 2029 appeared first on SomMarketer.