ArcelorMittal-Nippon venture wins approval for $4.7 billion Indian steel plant

NEWDELHI – India’s jap state of Odisha on Thursday accepted ArcelorMittal Nippon Metal India’s $4.68 billion metal plant mission, a authorities assertion mentioned.

The plant, to be constructed by the three way partnership between ArcelorMittal SA and Nippon Metal Corp, could have annual manufacturing capability of seven million tonnes, Odisha’s authorities mentioned.

“(The mission) is predicted to churn employment alternatives for greater than 11,000 folks within the state,” the assertion mentioned.

($1 = 81.2420 Indian rupees)

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