The companies said the total investment for the project is estimated for about US$7.5–8 billion to be deployed in phases. It builds on the expansion already taking place at its existing plant in Hazira. India has a target of reaching 300 million metric tons of crude steel capacity by 2030–2031.  

“Steel is the fabric of life, and we are proud to have the opportunity to contribute to expanding India’s steel capabilities with this amazing new plant, which will be one of the most competitive, modern facilities in the country,” said Aditya Mittal, chairman of AM/NS India and chief executive officer of ArcelorMittal. 

The plant will produce a range of steel products aimed at expanding domestic steelmaking capacity, estimated to create over 100,000 direct and indirect jobs, the companies said.

“It means a lot to me that we are able to contribute so meaningfully towards India’s journey toward Viksit Bharat, demonstrating how world-class steelmaking can power sustainable growth and national self-reliance,” said Lakshmi Mittal, executive chairman of ArcelorMittal. 

The companies said they expect the new plant to start up by the first quarter of 2029.