Japan's Nippon Steel plans to build the world's largest steel plant in Odisha, India, with an annual production capacity of up to 30 million tons. In recent years, Nippon Steel has always regarded the Indian market as a new pillar of development; To expand its market share in India, the company previously established a joint venture with ArcelorMittal to establish AM/NS India, and signed a memorandum of understanding with the government of Orissa to invest in the construction of two large steel plants with annual production capacity of 12 million tons and 7 million tons, respectively.