Babu lays foundation for Rs 1.36 lakh cr AM/NS India steel plant

Metro India News | Rajayyapeta

Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday laid the foundation for Rs 1.36 lakh-crore ArcelorMittal Nippon Steel India steel plant here in Nakkapalli mandal of Anakapalli district.

With a capacity of 17.8 million tons per annum, the plant will be set up in 5,465 acres in two phases and will create one lakh direct and indirect jobs, according to the government.

In the first phase, the steel plant will have a capacity of 7.3 million tons per annum and in the second phase, 10.5 million tons per annum.

Further, the AM/NS India will build a 50-million-tonnes capacity captive port in 316 acres linked to the steel plant at an investment of Rs 11,198 crore, which will create another 6,000 jobs.

The AM/NS India greenfield steel plant is set to play a key role in India’s steel market.

For the quicker construction of this project, the state government will always cooperate, said an official press release earlier.

To link the steel plant with National Highway 16, a four-lane road extension has been taken up, it added.