ArcelorMittal successfully acquired Essar Steel, and planned to invest a new steel plant with capacity of 3-6 million tons near Paradip port in Odisha.

The project included building a new steel plant, and upgrading Essar Steel's capacity to 12-15 million tons, with total investment of 800 billion rupees.

In the first phase, a new coke oven with annual capacity of 1.35 million tons, a powder ore plant with 1.7 million tons, a slab casting machine with 1 million tons, an iron ore pellet processing plant with 6 million tons, and a mineral processing plant with 4 million tons will be under construction. In the second phase, ArcelorMittal will add one more coke oven with annual capacity of 1.2 million ton, a 4 million ton blast furnace, and a 5.2 million ton alkaline oxygen-burning furnace, also planned to increase annual capacity to 8.5 million tons in 2024.

Besides, a new electric furnace plant will be built closed to Paradip port, and the plant will produce direct reduced iron to fill up raw material demand gap for new steel mill, which was scheduled to put into operation in 2021-2022.