UK markets open in 42 minutes
  • NIKKEI 225

    27,402.05
    +55.17 (+0.20%)
     
  • HANG SENG

    22,092.79
    +20.61 (+0.09%)
     
  • CRUDE OIL

    76.93
    +0.52 (+0.68%)
     
  • GOLD FUTURES

    1,972.30
    +29.50 (+1.52%)
     
  • DOW

    34,092.96
    +6.92 (+0.02%)
     
  • BTC-GBP

    19,226.23
    +506.63 (+2.71%)
     
  • CMC Crypto 200

    543.35
    +300.67 (+123.90%)
     
  • ^IXIC

    11,816.32
    +231.77 (+2.00%)
     
  • ^FTAS

    4,252.85
    -2.87 (-0.07%)
     

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

A logo is seen on the roof of the ArcelorMittal steelworks headquarters in Ostrava

NEW DELHI (Reuters) - India's eastern state of Odisha on Thursday approved ArcelorMittal Nippon Steel India's $4.68 billion steel plant project, a government statement said.

The plant, to be built by the joint venture between ArcelorMittal SA and Nippon Steel Corp, will have annual production capacity of 7 million tonnes, Odisha's government said.

"(The project) is expected to churn employment opportunities for more than 11,000 people in the state," the statement said.

($1 = 81.2420 Indian rupees)

(Reporting by Shivam Patel and Jatindra Dash; Editing by David Goodman)