The first phase of the steel plant was expected to be completed by January 2029 and the second phase by 2033. Besides the integrated steel plant, AM/NS India also plans to establish a co-terminus captive port with 17 berths with an investment of INR 11,198 crore.
Nov 5, 2024
Global steel giant ArcelorMittal S.A.has joined forces with Japan’s Nippon Steel Corporation to set up an integrated steel plant with a capacity of 24 million metric tonnes per annum in Andhra Pradesh with an investment of INR 1.5 lakh crore.
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As per official sources, the steel plant would be established at Nakkapalle in Anakapalle district of Andhra Pradesh by AM/NS India, a joint venture of ArcelorMittal and Nippon Steel. The first phase of the steel plant was expected to be completed by January 2029 and the second phase by 2033.
AMNS India already has an iron slurry pipeline between Kirandul in Chattisgarh and Visakhapatnam Port, used in transportation of iron ore. The company proposed to extend the same pipeline to the steel plant at Nakkapalle. AMNS India has further sought government help in procuring iron ore, they added.
The sources further confirmed that there would be no conflict of interest between the proposed steel plant by AM/NS and the existing Visakhapatnam Steel Plant as VSP was into manufacturing of steel rods, while the new AM/NS facility would only produce stainless steel.
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Besides the integrated steel plant, AM/NS India has also submitted a proposal for a co-terminus captive port with 17 berths. The project would be taken up in two phases with an investment of INR 11,198 crore. In the first phase, five berths would be built with a total handling capacity of 20.5 MMPTA.
