Chandrababu Naidu lays foundation for Rs 1.36 lakh-crore steel plant in Andhra

Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation for a Rs 1.36 lakh-crore AM/NS India steel plant in Anakapalli district. The project will be developed in phases and is expected to generate one lakh jobs

Rajayyapeta (Andhra Pradesh): Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday laid the foundation for the 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 tonnes 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 tonnes per annum and in the second phase, 10.5 million tonnes per annum.

Further, AM/NS India will build a 50-million-tonne 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 extend full cooperation, an official press release said.

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