Anakapalli, 23 March (HS): Andhra Pradesh Chief Minister N. Chandrababu Naidu on Monday laid the foundation stone for the ₹1.36 lakh crore ArcelorMittal Nippon Steel (AM/NS) India steel plant at Rajayyapeta in Nakkapalli mandal of Anakapalli district.

According to the government, the plant, with a capacity of 17.8 million tonnes per annum, will be developed over 5,465 acres in two phases and is expected to generate about one lakh direct and indirect employment opportunities.

Union Minister for Steel and Heavy Industries H.D. Kumaraswamy and Andhra Pradesh Deputy Chief Minister K. Pawan Kalyan attended the ceremony along with ArcelorMittal Chairman Lakshmi Mittal, AM/NS India Chairman and ArcelorMittal CEO Aditya Mittal and AM/NS India CEO Dilip Oommen.

In the first phase, the plant will have a production capacity of 7.3 million tonnes per annum, which will be expanded to 10.5 million tonnes per annum in the second phase.

AM/NS India will also develop a captive port with a capacity of 50 million tonnes on 316 acres at an investment of ₹11,198 crore, which is expected to create another 6,000 jobs.

The greenfield steel plant is expected to play an important role in India’s steel sector. The state government said it would extend full support for speedy execution of the project. A four-lane road extension is also being taken up to connect the plant to National Highway-16.

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Hindusthan Samachar / Indrani Sarkar