Anakapalli: In a significant boost to Andhra Pradesh’s industrial development, Chief Minister N. Chandrababu Naidu, along with Union ministers, laid the foundation stone for the ArcelorMittal Nippon Steel India (AMNS) steel plant in Anakapalli district.

The bhoomi pujan ceremony was held at Rajaiahpet in Nakkapalli mandal, where the mega steel plant will be developed across 5,465 acres in two phases. The project is designed with a production capacity of 17.8 million tonnes per annum.

Deputy Chief Minister Pawan Kalyan, along with several ministers, MLAs, and local leaders, attended the ceremony.

The total investment for the project is estimated at Rs 1,35,964 crore. In the first phase, construction will be undertaken on 2,600 acres with an investment of Rs 80,000 crore. The plant is expected to commence production by 2029.

The project is anticipated to generate employment opportunities for nearly one lakh people. Additionally, a captive port will be developed at a cost of Rs 11,198 crore, creating around 6,000 more jobs.

With the establishment of the AMNS India steel plant, the Visakhapatnam region is expected to emerge as a major industrial hub. The state government has assured full support for the timely completion of the project.

Infrastructure development is also progressing rapidly, including the expansion of connectivity between the steel plant and National Highway-16 into a four-lane corridor.