AM/NS India to launch 17.8 MTPA steel project in Andhra Pradesh with Rs 1.4 lakh cr investment: Report

AM/NS India, the joint venture between ArcelorMittal and Nippon Steel, is set to establish one of the largest greenfield steel projects in India, reported the Economic Times. The company plans to invest Rs 1.4 lakh crore to build an integrated steel plant in Andhra Pradesh's Anakapalli district, with a capacity of 17.8 million tonnes per annum (MTPA).

In the first phase, AM/NS will develop a 7.3 MTPA capacity steel plant with an initial Rs 80,000 crore investment, requiring 2,600 acres. The second phase will add 10.5 MTPA capacity with an additional Rs 60,000 crore and 2,000 more acres. The project was agreed upon in a virtual meeting between Andhra Pradesh IT Minister Nara Lokesh and ArcelorMittal CEO Aditya Mittal.

The plant will incorporate green steel technology and cater to high-value sectors like automotive, aiming to reduce import dependence. Land availability and port access at Nakkapalli, near Nakkapalli bulk drug park, played a crucial role in the site selection. AM/NS is also seeking approval for a captive jetty to secure raw materials globally.

Expected to break ground in January 2025, the project is part of AM/NS's goal to reach 40 MTPA steel production by 2035.