Posted on 05 Nov 2024
ArcelorMittal Nippon Steel (AMNS) India is to establish a 17.8 million tonnes/year integrated steel plant in Anakapalli, Andhra Pradesh, Kallanish learns.
Lok Sabha member of parliament C.M. Ramesh announced the project this week on social media platform X. Ramesh said this project will create about 20,000 jobs, with an official government announcement to be made soon.
The plant will require an investment of INR 1.4 trillion ($16.6 billion) and will be developed in two phases.
The project will have a blast furnace capacity of 7.3m t/y and require an initial investment of INR 700-800 billion in phase 1. The company has sought 2,600 acres of land in this first phase.
It plans to add a further 10.5m t/y of capacity with an investment of INR 600 billion and seek an additional 2,000 acres of land in phase 2.
The foundation stone for the new facility is expected to be laid in January 2025.
The government has confirmed the allocation of land necessary for the project, repurposing part of the nearly 2,000 acres initially designated for a bulk drug park near Anakapalli, as well as land earmarked for the Nakkapalli Park, which is part of the Visakha-Chennai Industrial Corridor.
AMNS India is a joint venture between steel major ArcelorMittal and Japan’s Nippon Steel. It indicated in 2022 that it was planning a 24m t/y capacity planned greenfield steel plant in Kendrapara, Odisha.
Source:Kallanish
