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South Africa signs plan to revive steel industry

South Africa signs plan to revive steel industry Reuters 11 hrs ago © Reuters/ROGAN WARD FILE PHOTO: A worker cuts through steel at the Southern African Shipyards in Durban JOHANNESBURG (Reuters) - South Africa has signed a plan that aims to revive the local steel industry and boost output, the Department of Trade, Industry and Competition said on Sunday. The Master Plan for the steel and metal fabrication sector - an initiative by regulators, industry and labour - was signed on Friday and outlines steps to re-energize the sector and expand production, the ministry said. South Africa is one of the largest steel producers on the African continent with steel-consuming industries contributing 600 billion rand ($44 billion) to the country s GDP.

ArcelorMittal Nippon Steel India initiates feasibility study for 12-MTPA steel project in Odisha

ArcelorMittal Nippon Steel India initiates feasibility study for 12-MTPA steel project in Odisha SECTIONS Last Updated: May 09, 2021, 02:23 PM IST Share Synopsis In March 2021, the Gujarat-based ArcelorMittal Nippon Steel India (AM/NS India) had signed a memorandum of understanding (MoU) with the Odisha government for setting the greenfield project in Kendrapara with an investment of Rs 50,000 crore. PTI ArcelorMittal Nippon Steel India along with the Odisha government has initiated a feasibility study for its proposed 12 million tonne per annum (MTPA) integrated steel plant in Kendrapara district of the state. In March 2021, the Gujarat-based ArcelorMittal Nippon Steel India (AM/NS India) had signed a memorandum of understanding (MoU) with the Odisha government for setting the greenfield project in Kendrapara with an investment of Rs 50,000 crore.

Situation is heartbreaking: ArcelorMittal CEO on India s coronavirus crisis

As India continues to battle against COVID-19, Luxembourg-based ArcelorMittal CEO Aditya Mittal on Monday said the situation in the country is heartbreaking. Owned by Indian origin business tycoon L N Mittal, ArcelorMittal is the world s largest steel-making company with a presence in over 150 countries. The situation in India is heartbreaking and has the attention of the whole world. It is important that countries and companies pool their resources. ArcelorMittal is committed to playing its part, AMNS India quoted its Chairman Aditya Mittal in a tweet. In February 2021, Aditya succeeded his father Lakshmi N Mittal as the CEO of ArcelorMittal. Our company in India is sending oxygen to local medical facilities and we have partnered with Gujarat government and opened a 250-bed capacity hospital. We are monitoring the situation closely and will provide whatever assistance we are able to, Aditya said.

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