Lakshmi Mittal, the chairperson of steel manufacturing corporation ArcelorMittal announced that the corporation will build the world’s single largest steel manufacturing site at Gujarat’s Hazira by 2029. Mittal was addressing the ongoing Vibrant Gujarat Global Summit (VGGS) 2024 while making the announcement.

The steel baron said that the first phase of the steel manufacturing site will be completed by 2026 whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029. Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel, making it the world’s largest steel manufacturing site.

“Hazira expansion was inaugurated by PM in 2021. Phase one will be completed by 2026, 2nd phase MoU signed, will be completed by 2029 and will produce 24 mn tonnes steel and it will become the world’s biggest plant,” Lakshmi Mittal said at the summit.

In October 2022, ArcelorMittal arm ArcelorMittal Nippon Steel (AMNS) India had announced an investment of around Rs 60,000 crore to scale up the capacity of the steel plant to 15 MT, company chairman Aditya Mittal told PTI at the time. The investment was for installation of new steel making technologies, setting up new-age machineries and increasing product mix