Arcelor Nippon inks pact for `50K cr plant

ArcelorMittal Nippon Steel India (AM/NS India) inked an MoU with the Odisha government for setting up a 12 mtpa integrated steel plant in Kendrapada district with an investment of Rs 50,000 crore, officials said. Steel tycoon Lakshmi N. Mittal met chief minister Naveen Patnaik at his residence Naveen Niwas earlier in the day and discussed ArcelorMittal's projects in the state, an official said.