NewsVoir
Mumbai (Maharashtra) / Amaravati (Andhra Pradesh) [India], March 29: ArcelorMittal Nippon Steel India (AM/NS India) today announced the beginning of the acquisition of a land parcel in Anakapalli district, Andhra Pradesh, as part of its plans to set up a state-of-the-art integrated steel plant in Rajayapeta. The initial payment for acquiring the land has been made, and possession is expected soon, paving the way for the company to commence work on the greenfield project.
With proposed initial capacity of 7.3 MTPA, the project reinforces AM/NS India's commitment to contributing to India's national ambition to reach 300 MTPA crude steel capacity by 2030 and strengthening domestic manufacturing in line with the 'Atmanirbhar Bharat' initiative.
Chief Minister of Andhra Pradesh N. Chandrababu Naidu, said, "We welcome ArcelorMittal Nippon Steel India to Andhra Pradesh and are committed to providing all requisite support to ensure its success. This mega steel plant will not only create substantial employment opportunities but also foster socio-economic development for the communities and beyond. This project aligns with our vision of transforming Andhra Pradesh into a leading industrial hub."
Lakshmi Mittal, Executive Chairman, ArcelorMittal, said: "This investment in Andhra Pradesh deepens and broadens our presence in Indian steelmaking and takes us all closer to Viksit Bharat. This is a proud moment for all at AM/NS India, and Andhra Pradesh; together we hope to make a meaningful addition to India's growing stature as a pre-eminent force in global manufacturing."
Aditya Mittal, Chairman, ArcelorMittal Nippon Steel India and CEO, ArcelorMittal, said, "Our investment today is the first step in an exciting plan to build a world-class steel plant in Andhra Pradesh that strengthens our contribution to India's long-term steel manufacturing ambitions. We thank the Government of Andhra Pradesh for its steadfast leadership and shared commitment to a project that will create jobs and sustainable economic and societal value for local communities, the state and India."
Chairman of the task force for generating 20 Lakh jobs in AP & Minister of IT & HRD Nara Lokesh welcomed the move and reiterated commitment of Government of Andhra Pradesh to speed of doing business and facilitating AM/NS's entry into the state of Andhra Pradesh.
Takahiro Mori, Representative Director, Vice Chairman and Executive Vice President, Nippon Steel and Member, Board of Directors, ArcelorMittal Nippon Steel India, said, "AM/NS India's proposed plant in Andhra Pradesh illustrates our unstinting ambition to grow Indian steelmaking capacity to support the country's development. We are grateful to the Government of Andhra Pradesh for its support and commit ourselves to realising this project in a responsible way that strengthens the local economy and elevates India as a significant global steel manufacturing hub."
AM/NS India is continuously pursuing growth opportunities nationwide, deepening its footprint and driving infrastructure development for the country. Its expansion to 15 MTPA from the current 9 MTPA at its flagship plant in Hazira, Gujarat, is progressing well. In Odisha where the company already has a significant presence, plans are underway to set up an integrated steel plant.
ArcelorMittal Nippon Steel India (AM/NS India) is a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steel manufacturing organisations. A leading integrated flat carbon steel producer in India, the company has a crude steel capacity of 9 million tonnes per annum with state-of-the-art downstream facilities. It produces a fully diversified range of flat steel products, including value-added steel, and has a pellet capacity of 20 million tonnes.
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