Arcelor Mittal’s executive chairman, Lakshmi Mittal, stated that the business will construct the world’s largest steel manufacturing facility by 2029 at Hazira, Gujarat. He noted that the factory will have a capacity of 24 million tonnes per annum (MTPA) at the 10th Vibrant Gujarat Global Summit. ArcelorMittal and the Gujarat government have inked Memorandums of Understanding for phase two of the Hazira facility at the summit.
Prime Minister Narendra Modi performed the ‘bhumi puja’ for the plant’s first phase in 2021, and work is progressing on target for a 2026 commissioning, according to Mittal.
The expansion is consistent with India’s commitment to industrial growth and puts ArcelorMittal at the forefront of major steel industry players. Mittal’s upbeat comments during the summit highlight the optimism and confidence that permeate the minds of global investors and investors attending this prestigious summit.