VIJAYAWADA: The ArcelorMittal Nippon Steel Plant, which is being established following the efforts of HRD and IT Minister Nara Lokesh, will be set up in two phases at a cost of Rs 1,47,162 crore in Nakkapalli mandal of Anakapalli district, said Industries, Food Processing and Commerce Minister TG Bharath. The steel plant will provide employment opportunities to about one lakh people, he added.
Addressing the Assembly during the Question Hour on Thursday, the minister informed the members that the ArcelorMittal Nippon Steel India Management will establish an Integrated Steel Plant with a total production capacity of 17.8 MT (million tonnes) per annum.
As much as Rs 61,780 crore will be invested in the first phase with a production capacity of 7.3 MT per annum, while Rs 85,382 crore will be committed in the second phase with a production capacity of 10.5 MT per annum.
Bharath recalled that Lokesh and Aditya Mittal met during the World Economic Forum (WEF) in Davos in 2018 and discussed setting up the Steel Plant in Andhra Pradesh. However, the initial plans did not materialise following the change of guard in the State in 2019, he asserted.
“Minister Lokesh spoke to Aditya Mittal regarding the establishment of the steel plant after the TDP-led NDA government assumed office and received a positive response from him,” Bharath emphasised.
Asserting that the ArcelorMittal Nippon Steel India Management came forward to set up the integrated steel plant in the State because of the trust they have in the leadership of Chief Minister N Chandrababu Naidu and the NDA government, Minister Bharath said that it would emerge as the largest Steel Plant in India.
He further said that they had explained the opportunities for investments in the State during their visit to Davos under the leadership of the Chief Minister and Minister Lokesh.