Visakhapatnam, March 23 (NationPress) The Chief Minister of Andhra Pradesh, N. Chandrababu Naidu, officially inaugurated the foundation of the ArcelorMittal Nippon Steel (AM-NS) India facility in Nakkapalli, located in Anakapalli district. He emphasized that Andhra Pradesh stands out as the premier destination for industrial investments in India.

The event also saw the presence of Union Minister of Heavy Industries and Steel, HD Kumara Swamy.

According to CM Naidu, this initiative represents not only the establishment of a steel plant but also the groundwork for a future Steel City within the region.

During his speech, the Chief Minister highlighted that this monumental project will greatly enhance development in North Andhra and play a vital role in addressing the rising steel demands of the nation.

The total investment projected for this endeavor is Rs 1.35 lakh crore, with an initial phase investment of Rs 70,000 crore aimed at achieving an annual production capacity of 8.2 million tonnes. Ultimately, upon full completion, the plant is expected to reach a production capacity of 17.8 million tonnes of steel.

Moreover, the establishment of this plant is anticipated to create over 100,000 jobs, both directly and indirectly.

The project will also include the construction of a captive port valued at Rs 11,198 crore, a four-lane road linking to national highways, and a pipeline dedicated to raw material transportation.

The objective is to initiate production by 2028, with significant blast furnace installations expected by 2030.

CM Naidu remarked that the decision of a globally recognized company to invest in Andhra Pradesh is a testament to the state's investor-friendly policies and effective governance.

He expressed gratitude towards Prime Minister Narendra Modi for his assistance, noting that this project aligns with national initiatives such as Make in India and Atmanirbhar Bharat. He labeled it a success of the 'double-engine government.'

The Chief Minister underscored that Andhra Pradesh is experiencing swift industrial growth across various sectors, including data centers, food processing, manufacturing, and tourism.

He also mentioned the upcoming Google Data Centre in Visakhapatnam, which stands as a first in the country, having attracted Foreign Direct Investment (FDI) totaling $15 billion.

In just 20 months since the people-driven government took office, the state has drawn investments amounting to Rs 20.35 lakh crore.

As the Visakhapatnam Economic Region continues to develop, the city is set to become a crucial hub for the knowledge economy, ports, steel, data centers, and IT.

Union Minister H. D. Kumaraswamy acknowledged that projects of this magnitude are essential for achieving India’s long-term steel capacity objectives. He stated that this partnership embodies a blend of “global expertise and domestic ambition,” contributing positively to the modernization of India’s steel sector.

Kumaraswamy remarked that the introduction of ArcelorMittal-Nippon Steel in Andhra Pradesh actualizes the vision of a robust steel ecosystem in the area.

In line with the National Steel Consumption Policy, a goal has been set to enhance steel production nationwide, he noted.

He expressed hope that the ArcelorMittal plant would drive steel production, bolster the MSME sector, and facilitate job growth.

Deputy Chief Minister Pawan Kalyan shared his contentment as the Minister for Environment, expressing that this project is being developed with remarkably low emissions.

He asserted that Andhra Pradesh currently attracts 25% of all investments in the nation, attributing this achievement to the visionary leadership of Chandrababu Naidu.

Lokesh recalled his prior meeting with Aditya Mittal before 2019, where he encouraged him to set up a plant in Andhra Pradesh. He added that the action plan for the establishment of this steel plant was initiated after the coalition government took office in 2024.

He mentioned that the government expedited land allocation and permit issuance. Industries of this caliber have arrived due to the strength of the 'CBN brand', he noted.

ArcelorMittal Executive Chairman Lakshmi Mittal expressed that this event signals the next chapter in their collaboration with India, founded on shared vision and lasting trust.

“Having spent fifty years in the steel industry, I can genuinely say that what we are creating here in India stands as one of the highlights of my career. It is immensely gratifying to contribute significantly to India’s journey towards a developed Bharat, showcasing how world-class steel production can fuel sustainable growth and self-reliance,” he stated.

The Chairman of ArcelorMittal Nippon Steel India and CEO of ArcelorMittal extended gratitude to both the Government of Andhra Pradesh and the Government of India for their unwavering support in actualizing this project.

“Steel is integral to life, and we take pride in the opportunity to help expand India’s steel capabilities with this remarkable new plant, which will be among the most competitive and modern facilities in the nation. Its coastal location and easy connectivity to the richest iron-ore belt in the country via our existing slurry pipeline make this an ideal site for steel manufacturing,” he concluded.