The Gujarat government had informed that the world’s leading steel and mining conglomerate ArcelorMittal would invest Rs 1,00,000 crore in different projects in the states, including its steel plant at Hazira near Surat.

Earlier in the day, ArcelorMittal Chairman Lakshmi Niwas Mittal along with the CEO of ArcelorMittal Nippon Steel India (AM/NS India), Dilip Oommen, called upon Gujarat Chief Minister Vijay Rupani at Gandhinagar. During the meeting, Mittal expressed his commitment to invest Rs 50,000 crore for the expansion of Hazira-based steel plant. Notably, ArcelorMittal Nippon Steel India had taken over the steel plant from Essar in 2019 following an insolvency proceeding initiated by lender banks. Mittal is also willing to invest another Rs 50,000 crore in solar energy, wind energy and hydrogen gas production in Gujarat.

• What is Stock Order : Types, Differences & How Order Works
• India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
• Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board

“The Chairman of @ArcelorMittal Shri Lakshmi Mittal paid courtesy visit to CM Shri @vijayrupanibjp today in Gandhinagar and committed further investment of Rs 50,000 crore for their Hazira plant expansion and additional Rs 50,000 crore in the hydrogen gas and renewable energy field,” the CMO tweeted.
In all, the group would invest Rs 1,00,000 core in the near future in Gujarat.

Chief minister Rupani welcomed the decision and assured to provide all necessary help, the statement said.