ArcelorMittal Nippon Steel India starts land acquisition in Andhra Pradesh for proposed steel plant

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ArcelorMittal Nippon Steel India (AM/NS) said on March 28 that the joint venture company has started the land acquisition process in Andhra Pradesh as part of its plans to set up  an integrated steel plant in the state.

The initial payment for acquiring the land  in Anakapalli district has been made, and possession is expected soon, paving the way for the company to commence work on the greenfield project, the company said in a statement.

With proposed initial capacity of 7.3 million tonnes per annum (MTPA), the project reinforces AM/NS India’s commitment to contributing to India’s national ambition to reach 300 MTPA crude steel capacity by 2030, the company said. According to reports, the company plans to invest Rs 1.4 lakh crore to build the integrated steel plant  with a total  capacity of 17.8 million tonnes per annum (MTPA).

The project is part of AM/NS's goal to reach 40 MTPA steel production by 2035. As of now, the  60/40 joint venture between ArcelorMittal and Nippon Steel, has a plant in Hazira, Gujarat, with a capacity of 9 MTPA, and is expanding 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.

AM/NS India is continuously pursuing growth opportunities nationwide, deepening its footprint and driving infrastructure development for the country, the company added in the press release.