Rajayyapeta, Mar 29 (KNN) ArcelorMittal Nippon Steel India (AM/NS India) has taken a significant step towards establishing its integrated steel plant in Rajayapeta, Andhra Pradesh.
The company announced on Friday that it has initiated the land acquisition process in Anakapalli district, with the initial payment completed and possession expected soon.
The proposed plant will have an initial capacity of 7.3 million tonnes per annum (mtpa) and is part of AM/NS India’s broader strategy to contribute to India’s goal of achieving 300 mtpa crude steel production by 2030.
The project also aligns with the Atmanirbhar Bharat initiative, promoting self-reliance in the manufacturing sector.
Welcoming the investment, Andhra Pradesh Chief Minister N. Chandrababu Naidu stated, “This mega steel plant will not only generate employment but also drive socio-economic growth, strengthening Andhra Pradesh’s position as an industrial hub.”
Lakshmi Mittal, Executive Chairman of ArcelorMittal, highlighted the project’s significance, calling it a step towards India’s industrial development under the Viksit Bharat vision.
Aditya Mittal, Chairman of AM/NS India, described the investment as the beginning of an ambitious plan to establish a world-class steel facility in the region.
Takahiro Mori, Vice-Chairman of Nippon Steel, reaffirmed the joint venture’s commitment to expanding India’s steel manufacturing capacity.
AM/NS India has a long-term goal of reaching 40 mtpa capacity. Besides the Andhra Pradesh project, the company is expanding its Hazira plant in Gujarat from 9 mt to 15 mt and has plans for another integrated steel plant in Odisha.
Meanwhile, the steel ministry has proposed increasing the basic Customs duty on imported finished steel products from 7.5% to 15% in the upcoming Union Budget 2025–26 to support domestic manufacturers.
(KNN Bureau)
