AMNS India begins land acquisition in Andhra Pradesh for proposed steel plant

New Delhi, Mar 28 (PTI) AMNS India on Friday started the process to acquire a land parcel in Andhra Pradesh for its proposed steel manufacturing facility.

The initial payment for acquiring the land has been made, and possession is expected soon, paving the way for the company to commence work on the greenfield project, AMNS India said in a statement.

The company announced the beginning of the acquisition of a land parcel in Anakapalli district in Andhra Pradesh, as part of its plans to set up a state-of-the-art integrated steel plant in Rajayapeta.

The project will be set up with an initial capacity of 7.3 MTPA.

ArcelorMittal Nippon Steel India (AMNS India) did not provide any further details related to the investment and the overall capacity of planned project.

Lakshmi Mittal, Executive Chairman, ArcelorMittal, said: "This investment in Andhra Pradesh deepens and broadens our presence in Indian steelmaking and takes us all closer to Viksit Bharat."

Aditya Mittal, Chairman, ArcelorMittal Nippon Steel India, and CEO, ArcelorMittal, said, "Our investment today is the first step in an exciting plan to build a world-class steel plant in Andhra Pradesh that strengthens our contribution to India's long-term steel manufacturing ambitions."

He said the project will create jobs and sustainable economic and societal value for local communities, the state and the country.

Based at Hazira in Gujarat, AMNS India is a 60:40 joint venture company of Luxembourg-based ArcelorMittal and Nippon Steel of Japan.

The company has a crude steel capacity of 9 million tonnes per annum (MTPA).