STOCK MARKET BSE NSE

AMNS India announces Rs 1,000 crore more investment to expand Visakhapatnam pellet plant capacity

The chief minister made the remarks after a meeting with Aditya Mittal, CEO of parent company ArcelorMittal and Chairman of AMNS India at the World Economic Forum in Davos.

Published: 25th May 2022 10:30 AM  |   Last Updated: 25th May 2022 10:30 AM   |  A+A-

Steel

Image used for representational purpose only. (File Photo | Reuters)

By PTI

NEW DELHI: Steelmaker AMNS India will invest an additional Rs 1,000-crore in Andhra Pradesh to expand its pellet plant capacity to 11 MTPA. The present capacity of its pellet plant located in Visakhapatnam (Vizag) is 8 million tonnes per annum (MTPA).

"ArcelorMittal Nippon Steel India has confirmed a proposed investment of Rs 1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh," the Gujarat-based company said in a statement on Tuesday.

It said that the planned expansion will increase pellet production capacity at Vizag by 35 per cent to 11 MT from 8 MT. "We welcome these significant investments by ArcelorMittal and AM/NS India to Andhra Pradesh, which reinforce the state's leadership in attracting pioneering manufacturing and renewables projects that will not only support India's steel making growth ambitions but also assist the country's efforts to advance industrial decarbonisation," the statement quoted Andhra Pradesh CM Jagan Mohan Reddy as saying.

According to the statement, the chief minister made the remarks after a meeting with Aditya Mittal, CEO of parent company ArcelorMittal and Chairman of AMNS India at the World Economic Forum in Davos. AMNS India CEO Dilip Oommen said, "We are pleased to strengthen our commitment to the state with a further investment to significantly expand our pellet manufacturing plant in Visakhapatnam."

ArcelorMittal has also made an investment of USD 600 million for setting up of 1,000 megawatts (MW) solar capacity in the world's largest 5,230 MW renewable energy project being set by Greenko Group in Kurnool, Andhra Pradesh.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp