The ArcelorMittal Nippon Steel India (AMNS) plant is currently being established at Nakkapalli in Anakapalli district with a total investment of Rs 1.47 trillion. The project will be executed in two phases, with an investment of Rs 617.80 billion in the first phase and Rs 853.82 billion in the second. Once fully operational, the plant will have a production capacity of 17.80 Million Tonne Per Annum (MTPA), with 7.30 MTPA in the first phase and 10.50 MTPA in the second.

The decision to set up the steel plant in Andhra Pradesh followed extensive efforts by the State government’s task force on investments. The plant is expected to generate approximately one lakh jobs, significantly contributing to employment and economic development in the region.

Initially, AMNS had considered establishing the facility in Odisha. However, after discussions between the Andhra Pradesh government and Aditya Mittal at the World Economic Forum in 2018, the company shifted its focus to Andhra Pradesh. The proposal was followed up consistently, ultimately leading to the decision to set up the plant in Nakkapalli.

The project is seen as a major milestone for the state’s industrial sector and is expected to boost economic growth. With its establishment, the AMNS plant is set to become the largest steel manufacturing facility in the country. The investment reflects the company’s confidence in the state's business environment and governance.

News source: The Hindu