New Delhi, March 28 (PTI) AMNS India began a land purchase in Andhra Pradesh on Friday.
Amns India said in a statement that initial payments for the acquisition of the land have been paid and expected to own the property soon, paving the way for the company to start working on the Greenfield project.
The company announced the acquisition of a land parcel in Andhra Pradesh’s Anakapalli district as part of its plan to establish a state-of-the-art integrated steel mill in Rajayapeta.
The initial capacity of this project is 7.3 MTPA.
Arcelormittal Nippon Steel India (AMNS India) does not provide any further details regarding the investment and overall capabilities of the planned projects.
“This investment in Andhra Pradesh deepens and expands our presence in Indian steel manufacturing and brings us all closer to Viksit Bharat,” said Arcelormittal Executive Chairman Lakshmi Mittal.
“Our investment today is the first step in building a world-class steel plant in Andhra Pradesh, which strengthens our contribution to India’s long-term steel ambitions,” said Arcelormittal Nippon Steel India Chairman Aditya Mittal and CEO Arcelormittal.
He said the project will create jobs and sustainable economic and social value for local communities, states and countries.
Hazira, Gujarat, India’s AMNS is a 60:40 joint venture located in Arcelormittal, Luxembourg and Nippon Steel, Japan.
The company has a crude oil capacity of 9 million tons per year (MTPA).
