New Delhi: ArcelorMittal announces the foundation stone laying ceremony for the new integrated steel plant of its Joint Venture, ArcelorMittal Nippon Steel India (AM/NS India) at Rajayyapeta in Anakapalli district, Andhra Pradesh, India.
The ceremony was attended by senior representatives of the Government of India and the Government of Andhra Pradesh, alongside Lakshmi Mittal, Executive Chairman of ArcelorMittal, and Aditya Mittal, Chief Executive Officer of ArcelorMittal and Chairman of AM/NS India.
The Rajayyapeta plant will produce a range of high-quality, value-added steel products, strengthening India’s ambition to expand domestic steelmaking capacity. It is expected to generate more than 100,000 direct and indirect jobs.
With an excellent coastal location and proximity to the existing slurry pipe-line that enables easy connection to one of India’s richest iron-ore deposits, it will be one of the lowest-cost, most competitive plants in India.
The steel manufacturing operations of the new plant are planned to commence by the first quarter 2029, with other units being introduced in a phased manner over the subsequent quarters. The total investment is estimated at over ₹70,000 crore (approximately US$7.5 – US$8 billion) which will be deployed in a phased manner.
The project forms part of ArcelorMittal’s strategy to grow its presence in India, a key market with strong long-term demand driven by infrastructure, urbanisation and industrial development. It builds on the expansion already underway at AM/NS India’s existing plant in Hazira. India has set a target of reaching 300 million tonnes of crude steel capacity by 2030–31, and the development of new, advanced steelmaking facilities will play an important role in achieving this objective.
Lakshmi Mittal, Executive Chairman, ArcelorMittal, said: “Today marks the next chapter in our partnership with India, one built on shared ambition and enduring trust. I have been in the steel industry now for fifty years, and I can honestly say that what we are building here in India is one of the highlights of these 50 years. It means a lot to me that we are able to contribute so meaningfully towards India’s journey toward Viksit Bharat, demonstrating how world-class steelmaking can power sustainable growth and national self-reliance. Thank you to everyone who is supporting this project, which I hope will also be transformational for the local communities and the state of Andhra Pradesh more broadly.”
Aditya Mittal, Chairman, ArcelorMittal Nippon Steel India and CEO, ArcelorMittal, said: “Steel is the fabric of life, and we are proud to have the opportunity to contribute to expanding India’s steel capabilities with this amazing new plant, which will be one of the most competitive, modern facilities in the country. Its coastal position and the fact it can easily be connected to the richest iron-ore belt in the country through our existing slurry pipeline, make this an excellent place to manufacture steel. South India is one of the fastest growing markets with excellent logistics, and so the plant will be able to cater to all the customers in the region as well as more broadly throughout India. Now the construction will start – and the focus will be on ensuring that this is managed with safety always at the core. I look forward to seeing the progress and celebrating the major construction milestones along the way. The completion of this facility will further augment the position of ArcelorMittal Nippon Steel India as one of the leading steel companies in the country.”
