Amaravati, Mar 22 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu will lay the foundation for a Rs 1.3 lakh-crore steel plant of ArcelorMittal Nippon Steel India (AM/NS India) at Rajayyapeta village in Anakapalli district on Monday.
The Chief Minister will lay the foundation in the presence of Union Heavy Industries and Steel Minister HD Kumaraswamy, Arcelor Mittal executive chairman Lakshmi Niwas Mittal, AM/NS India chairman Aditya Mittal and others, an official source said on Sunday.
“Naidu will lay the foundation for AM/NS India steel plant at Nakkapalli in Anakapalli district on (Monday) March 23,” the source told PTI.
With a capacity of nearly 18 million tonnes per annum, the integrated steel plant will be set up over 5,400 acres in two phases and is expected to generate employment for around one lakh people.
In the first phase, the plant will have a capacity of 7.3 million tonnes per annum, while the second phase will add 10.5 million tonnes per annum.
The first phase of the project alone is expected to attract an investment of around Rs 70,000 crore, highlighting the scale of the initial development.
The greenfield integrated steel plant is expected to play a key role in meeting the growing demand in India’s steel market and transform the Visakhapatnam Economic Region into a major industrial hub, a press release noted.
“For speedy completion of the project, the southern state’s government is extending full support. A four-lane road is being developed to connect the steel plant with National Highway-16,” it said.
On March 23 afternoon, Naidu will travel to Nakkapalli by helicopter, visit the experience zone at 3:40 pm to review the steel plant model, and later lay the foundation and participate in Memorandum of Understanding (MoU) exchanges.
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