ArcelorMittal Nippon Steel India (AM/NS) said on March 28 that the joint venture company has started the land acquisition process in Andhra Pradesh to establish an integrated steel plant in the state. The initial payment has been made, for acquiring the land in Anakapalli district, and is expected to own it soon, for the company to commence work on the greenfield project, According to an official statement by the company.
Reports indicate that the company plans to invest ₹1.4 lakh crore to develop the integrated steel plant, which will have a total capacity of 17.8 MTPA. The company also stated that with a planned initial capacity of 7.3 MTPA, the project highlights its commitment to aiding India’s national target of reaching 300 MTPA in crude steel production by 2030, the company said.
This initiative aligns with AM/NS India’s target of achieving 40 MTPA of steel production by 2035. Currently, the joint venture, 60% owned by ArcelorMittal and 40% by Nippon Steel—operates a 9 MTPA plant in Hazira, Gujarat, with plans to expand its capacity to 15 MTPA by 2026.
“This investment in Andhra Pradesh deepens and broadens our presence in Indian steelmaking and takes us all closer to Viksit Bharat,” said ArcelorMittal executive chairman Lakshmi Mittal.
The press release also highlighted that AM/NS India is continuously pursuing growth opportunities nationwide, deepening its footprint and driving infrastructure development for the country.