Visakhapatnam, March 23 (NationPress) Prime Minister Narendra Modi commended the colossal integrated steel plant by ArcelorMittal Nippon Steel (AMNS) India as a significant achievement in the developmental trajectory of Andhra Pradesh. He asserted that this venture will open new pathways for the youth and establish the state as a center for industrial innovation.

During the ceremony for laying the foundation stone of India’s largest greenfield steel plant in Nakkapalli, Anakapalli district, Prime Minister Modi characterized the initiative as a “world-class integrated steel plant”, aimed at bolstering India’s steel production capabilities.

“I extend my congratulations to Andhra Pradesh for this pivotal milestone. The inauguration of this project signifies the start of a world-class integrated steel facility, enhancing India’s steel manufacturing potential. It marks a crucial point in Andhra Pradesh’s developmental journey, generating opportunities for its youth and positioning the state at the forefront of industrial innovation. This will also fortify India’s status as a global leader in steel manufacturing,” quoted Prime Minister Modi in a statement released by the Andhra Pradesh government.

The project, with a total estimated investment of Rs 1.35 lakh crore, will be rolled out in phases, with the initial phase involving an investment of Rs 70,000 crore to establish a capacity of 8.2 million tonnes per annum.

Production is expected to begin by the first quarter of 2029.

The foundation-laying event included Union Steel and Heavy Industries Minister H. D. Kumaraswamy, Chief Minister N. Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, and IT Minister Nara Lokesh, along with steel industry leaders Lakshmi Mittal and Aditya Mittal.

Kumaraswamy emphasized that projects of this magnitude are vital for achieving India’s long-term steel capacity objectives. He remarked that the collaboration merges “global expertise and domestic ambition”, contributing to the modernization of India’s steel sector.

CM Chandrababu Naidu reiterated the state’s commitment to attracting investment, stating, “This project exemplifies Andhra Pradesh’s position as a preferred destination for investment, reflecting the growing global business confidence in our state. The government of Andhra Pradesh is wholeheartedly dedicated to assisting ArcelorMittal Nippon Steel India in bringing this investment to fruition, which will propel growth, generate jobs, and enhance the state’s role in India’s industrial future.”

The plant is projected to create approximately 1 lakh direct and indirect jobs, significantly boosting livelihoods and stimulating regional economic development.

ArcelorMittal Executive Chairman Lakshmi Mittal remarked that this event signals the dawn of a new chapter in their partnership with India, founded on mutual ambition and enduring trust. “Having been in the steel industry for fifty years, I can confidently say that what we are establishing here in India stands out as one of the highlights of this half-century. It is meaningful for me that we can contribute substantially to India’s journey towards Viksit Bharat, showcasing how world-class steel production can drive sustainable growth and national self-reliance.”

The Chairman of ArcelorMittal Nippon Steel India and CEO of ArcelorMittal expressed gratitude towards the Government of Andhra Pradesh and the Government of India for their unwavering support in realizing this project.

“Steel is the fabric of life, and we are privileged to contribute to enhancing India’s steel manufacturing capabilities with this remarkable new plant, which will be among the most competitive and modern facilities in the nation. Its coastal location allows easy access to the richest iron-ore belt in the country via our existing slurry pipeline, making it an ideal site for steel production,” he stated.

Minister Nara Lokesh described the initiative as more than just an industrial investment, calling it a representation of strength, resilience, and confidence in Andhra Pradesh’s potential.

During the event, ArcelorMittal Nippon Steel India also signed two significant Memorandums of Understanding (MoUs) with the Government of Andhra Pradesh.

The MoUs aim for ArcelorMittal Nippon Steel India to collaborate with the New Age Makers' Institute of Technology (NAMTECH) in establishing a future-ready industrial talent ecosystem in Andhra Pradesh, aligning advanced technology, materials innovation, education, and workforce development with the demands of contemporary industries.

NAMTECH is a not-for-profit initiative focused on education and skill development by ArcelorMittal Nippon Steel India.