India has approved the construction of a greenfield steel plant in the Anakapalli district of Andhra Pradesh.
AM/NS India has received environmental approval and 2,200 acres of land to build an 8.2 million tonnes per annum (MTPA) blast furnace facility.
The company will invest Rs 80,000 crore in the initial phase of the project.
The plant’s capacity may later expand to 24 MTPA, with the total investment exceeding Rs 1.5 lakh crore.
AM/NS India, a joint venture between ArcelorMittal and Nippon Steel, will source iron ore from the Bailadila mines in Chhattisgarh through a slurry pipeline.