ArcelorMittal chairman Lakshmi Mittal highlighted the Hazira expansion, inaugurated by Prime Minister Modi in 2021, as a pivotal project in his address at the Vibrant Gujarat Summit on Wednesday.
Mittal outlined an ambitious timeline for the expansion, with phase one expected to be completed by 2026. The second phase, marked by a substantial Memorandum of Understanding (MoU) signing, is projected to conclude by 2029, making the expanded facility the world’s largest steel plant with an impressive production capacity of 24 million tons.
Speaking about the institutionalized structure of the event, Mittal commended the ideas, imagination, and process continuity rooted in the Vibrant Gujarat Global Summit. Reflecting on his visit in September the previous year, he shared insights into Prime Minister Modi’s visionary theme for the summit, ‘One Earth, One Family, and One Future,’ predicting that it would significantly elevate India‘s pride on the global stage.
“I had come here in September last year for Vibrant Gujarat. PM Modi then briefed us on how this mega-global event has institutionalized structure on the basis of ideas, imagination, and process continuity. The PM had then said that India’s pride will increase with the theme of ‘One Earth, One Family, and One Future’,” Mittal remarked.
Expressing enthusiasm for the project, Mittal emphasized its significant role in the global steel industry. He also highlighted Arcelor Mittal‘s investment not only in steel but also in renewable energy and green hydrogen.
The Hazira expansion aligns with India’s commitment to industrial growth and positions ArcelorMittal at the forefront of major players in the steel sector. As the Vibrant Gujarat Global Summit unfolds, it serves as a platform for business interactions and a stage for industry leaders like Lakshmi Mittal to showcase their commitment to India’s economic development and global prominence.
Mittal’s positive remarks during the summit underscore the confidence and optimism prevalent among global investors and industrialists participating in this prestigious event. The Hazira expansion, with its ambitious timeline and substantial capacity, marks a significant milestone in India’s industrial landscape, reinforcing the country’s position as a key player in the global steel sector.
