Naidu Lays Foundation for Rs 1.35 Lakh Crore Steel Plant

Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stone for a massive greenfield steel plant by ArcelorMittal Nippon Steel India on March 23 in Rajayyapeta, Nakkapalli mandal of Anakapalli district. The event, attended by Union Steel and Heavy Industries Minister H.D. Kumaraswamy, Deputy Chief Minister Pawan Kalyan, IT and HRD Minister Nara Lokesh, and industry leaders including ArcelorMittal Executive Chairman Lakshmi N. Mittal and AMNS India Chairman Aditya Mittal, marks a significant step toward establishing the state's northern region as an industrial hub.

The project, valued at Rs 1.35 lakh crore, will develop an integrated steel facility with a total production capacity of 17.8 million tonnes per annum once fully operational. It will proceed in two phases, starting with an investment of Rs 70,000 crore in the first phase to achieve an initial capacity of 8.2 million tonnes per annum. Production in this phase is targeted to begin by the first quarter of 2029, with the first blast furnace operational by June 2028 and the second by December 2030. The plant will span over 5,000 acres of allocated land, where local farmers have cooperated in transferring...