Prime Minister Narendra Modi praised the ArcelorMittal Nippon Steel (AMNS) India’s new steel plant in Andhra Pradesh, highlighting its significance in the state’s development and potential to boost industrial innovation. The project, with a total investment of Rs 1.35 lakh crore, will be implemented in phases, starting with an 8.2 million tonnes per annum capacity in the first phase. The plant is expected to begin production by the first quarter of 2029.
The foundation stone laying ceremony was attended by Union Steel and Heavy Industries Minister H. D. Kumaraswamy, Chief Minister N. Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, IT Minister Nara Lokesh, and industry leaders Lakshmi Mittal and Aditya Mittal. Kumaraswamy emphasized the project’s importance for India’s long-term steel capacity goals, noting the collaboration’s potential to modernize the country’s steel sector.
CM Chandrababu Naidu highlighted the project as a testament to Andhra Pradesh’s appeal as an investment destination and a reflection of growing global confidence in the state. The plant is projected to create around 1 lakh direct and indirect job opportunities, contributing significantly to local economic growth. ArcelorMittal Executive Chairman Lakshmi Mittal expressed pride in the partnership with India, emphasizing the plant’s role in sustainable growth and national self-reliance.
