AP set for major industrial revolution
By G.Janardhana Rao, Business Editor
Visakhapatnam: Andhra Pradesh is set for a major industrial push with the ArcelorMittal Nippon Steel (AM/NS) plant in Anakapalli district. Chief Minister N. Chandrababu Naidu announced that the foundation stone for the plant will be laid after February 15, 2026.
The first phase, with an investment of about ₹60,000 crore, has already secured roughly 6,000 acres.
The plant's initial capacity will be 8.2 million tonnes per annum (MTPA), with plans to expand to 24 MTPA with an overall investment of over ₹1.5 lakh crore.
Naidu directed ministers Nara Lokesh and TG Bharath to fast-track all central and state approvals, emphasizing "speed of doing business" to meet the project's timeline.
The project has received environmental clearance and is expected to generate thousands of jobs, with estimates ranging from 20,000 to 61,000 direct and indirect jobs. A captive port with a capacity of 20.5 million metric tons per annum will be constructed to support the plant, with an investment of ₹5,816 crore.
Chandrababu Naidu discussed on the steel plant with steel plant executive chairman Lakshmi Mittal during the just concluded World Economic Forum session. The Chief Minister directed the officials to complete the process of necessary sanctions including allotment of land for the steel plant before laying foundation. He stressed the need for speedy completion of the project and commencement of production.
He directed the Ministers Nara Lokesh and TG Bharath to get necessary permissions for the plant from the central government.
Arcelor Mittal company CEO Aditya Mittal Praised the initiative of Minister Nara okesh for setting up of steel plant. The Chief Minister explained to Aditya Mittal over the investment opportunities in various sectors in the state.
Ministers Nara Lokesh, TG Bharath and officials were present during the deleberations.
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