ArcelorMittal Unveils Timeline for Mega Steel Manufacturing Site in Hazira: First Phase Targeted for Completion by 2026, Second Phase Set for 2029 as per MOU
ArcelorMittal’s Lakshmi Mittal Reflects on Past Summit Participation
Lakshmi Mittal, the chairperson of ArcelorMittal, revealed during the Vibrant Gujarat Global Summit 2024 that the company has ambitious plans to construct the world’s largest steel manufacturing site in Hazira, Gujarat, by the year 2029.
This significant announcement underscores ArcelorMittal’s commitment to expanding its presence and capabilities in the steel industry.
Lakshmi Mittal, the chairperson of ArcelorMittal, outlined the development plan for the Hazira steel manufacturing site. The first phase is scheduled for completion by 2026, followed by the second phase, marked by a Memorandum of Understanding (MoU), expected to be finalized by 2029. Once both phases are operational, the combined manufacturing facility is projected to produce approximately 24 million tonnes (MT) of steel.
The Hazira steel plant expansion by ArcelorMittal has been a significant project marked by key milestones:
- Inauguration by Prime Minister (PM) in 2021: The expansion project was inaugurated by Prime Minister Narendra Modi in 2021, signaling the commencement of the ambitious venture.
- Phased Approach: Lakshmi Mittal outlined the phased approach for the expansion at the Vibrant Gujarat Global Summit. The first phase is set for completion by 2026, with the second phase marked by an MoU and expected to conclude by 2029. The combined production capacity is anticipated to reach 24 million tonnes, making it the world’s largest steel manufacturing plant.
- Investment and Capacity Enhancement: In October 2022, ArcelorMittal Nippon Steel (AMNS) India, a subsidiary, announced a substantial investment of around Rs 60,000 crore. This investment aimed to scale up the steel plant’s capacity to 15 million tonnes, involving the installation of new steel-making technologies, deployment of advanced machinery, and diversification of the product mix.
- Environmental Clearance: AMNS received environmental clearance for the plant’s expansion, paving the way for the project’s advancement. Environmental considerations are crucial in such large-scale industrial developments.
- Acquisition and Renaming: In 2019, ArcelorMittal and Japan’s Nippon Steel jointly acquired the Essar Steel Limited plant located in Hazira. The plant was subsequently renamed ArcelorMittal Nippon Steel (AMNS) India.
Lakshmi Mittal emphasized that the expansion of the steel manufacturing site at Hazira aligns with India’s commitment to industrial growth. Beyond steel, he mentioned that ArcelorMittal is also investing in renewable energy and green hydrogen, showcasing the corporation’s broader engagement in sustainable and innovative technologies.
Reflecting on the last time he attended the summit, Mittal recalled Prime Minister Narendra Modi’s briefing for business and world leaders. During that briefing, PM Modi outlined the institutionalized structure of the mega-global event based on ideas, imagination, and process continuity.
The theme, “One Earth, One Family, and One Future,” conveyed India’s vision and ambition for global collaboration and unity. Mittal’s remarks highlight the corporation’s alignment with India’s vision for industrial progress and sustainable practices, as well as the significance of global partnerships in achieving these goals.
