ArcelorMittal Chairman Lakshmi Mittal discussed the Hazira expansion project at the Vibrant Gujarat Summit on Wednesday. In his speech, he emphasized the project’s significance, outlining an ambitious timeline for completion. Mittal stated that the first phase, set to finish by 2026, precedes the second phase concluding by 2029. Upon completion, the expanded facility aims to be the world’s largest steel plant, with a capacity to produce 24 million tons of steel. Mittal highlighted the Hazira expansion, inaugurated by Prime Minister Modi in 2021, as a pivotal project during his address at the summit.
Lakshmi Mittal Outlines Ambitious Expansion Plan at Vibrant Gujarat Summit
Mittal projected the completion of phase one by 2026, followed by a substantial MoU signing for phase two, set to conclude by 2029. This expansion aims to establish the world’s largest steel plant, boasting a remarkable production capacity of 24 million tons.
Commending the institutionalized structure of the event, Mittal praised the Vibrant Gujarat Summit’s rooted ideas, imagination, and process continuity. Mittal recalled his visit to Vibrant Gujarat in September, where PM Modi briefed on the event’s institutionalized structure based on ideas, imagination, and process continuity. Mittal remarked that India’s pride would increase with the visionary theme, ‘One Earth, One Family, and One Future.’
Expressing enthusiasm for the project, Mittal emphasized its pivotal role in the global steel industry. He also highlighted ArcelorMittal’s investment not only in steel but also in renewable energy and green hydrogen.
Lakshmi Mittal’s Positive Summit Remarks Boost Investor Confidence
Mittal’s positive remarks at the summit emphasize the confidence and optimism among global investors and industrialists participating in this prestigious event. The ambitious Hazira expansion, with its substantial capacity and timeline, signifies a significant milestone in India’s industrial landscape, solidifying the country’s position as a key player in the global steel sector.
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