ArcelorMittal Nippon Steel India has inked an agreement with the government of Gujarat to infuse Rs 1.66 lakh crore in six different projects in the state.

The company’s proposed investment include– Rs 4,200 crore for expansion and modernisation of existing captive jetty at Hazira, Rs 45,000 crore to increase the capacity of the existing 8.6 million tpa steel manufacturing plant to 18 million tpa, Rs 30,000 crore for Green Steel Plant with captive port capacity at Suvali, Surat and Rs 30,000 crore for Steel City and Industrial Cluster in Kidiabet, Surat.

A total of 10 GW of renewable power generation plants at various locations in the state will be set up by the company with an investment of about Rs 40,000 crore. It has signed an MoU for a 2,200 MW plant at Kanatalav in Bhavnagar district in the Phase-I.

ArcelorMittal Nippon Steel India is also planning to invest Rs 17,000 crore in another downstream, Coke oven projects in Hazira, Surat, Gujarat. The projects will create about 1.8 lakh jobs.

The Gujarat government will co-operate with ArcelorMittal in accordance with the existing policies and regulations for the necessary permits to be given for the timely commencement of these projects.