ArcelorMittal Nippon Steel India announced the beginning of the acquisition of a land parcel in Anakapalli district, Andhra Pradesh, as part of its plans to set up an 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 a 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.
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 to create jobs and sustainable economic and societal value for local communities, the state and India."
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