Second phase of Arcelor Mittal's Hazira manufacturing plant to be completed by 2029 

The development seems significant considering that advanced high-strength steels are an important part of every vehicle design and manufacturing process. High-strength steel forms around 60% of the total body structure in today's vehicles.

By Shahkar Abidi and Amit Vijay M calendar 10 Jan 2024 Views icon3072 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Second phase of Arcelor Mittal's Hazira manufacturing plant to be completed by 2029 

Arcelor Mittal's steel manufacturing plant at Hazira in Gujarat, is likely to see the completion of the first phase by 2026. The second phase for which an MoU has been signed will be completed by 2029, Lakshmi Mittal, Chairperson, Arcelor Mittal, said on Wednesday.

Mittal was speaking at the inaugural session of the 10th edition of the Vibrant Gujarat Summit, which kicked off on Wednesday.

The Hazira expansion plan started in 2021. "The development in this regard is happening at a fast pace, and as targeted, its first phase completion will take place by 2026," he said. 

"We signed a MoU for the second phase with the state government. When this project is completed, the 24 million-ton steel production will become one of the world's largest single-location sites," Mittal added. 

The development seems significant considering that advanced high-strength steels are an important part of every vehicle design and manufacturing process. High-strength steel forms around 60% of total body structure in today's vehicles. The specialised steels are lighter as compared to conventional steels and therefore help
in optimising the design, safety, and efficiency of the vehicles. 

"Not just steel; Arcelor Mittal is investing in other emerging segments like renewable energy and green hydrogen as well," he added. 

Also read: Maruti Suzuki to invest Rs 38,200 crore in Gujarat, to add 1.25 million units in capacity

Also read: Dhirubhai Ambani Green Energy Giga project to get commissioned in H12024

Also read: Adani Group announce Rs 2 lakh crore investments in Gujarat over next five years

Also read: Tata Group to announce semiconductor facility in Gujarat in 2024

Also read: More than 50 percent of MoUs signed in Vibrant Gujarat are green


 

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