Amaravati, March 21 Andhra Pradesh Chief Minister N Chandrababu Naidu is scheduled to lay the foundation for the Rs 1.36 lakh-crore AM/NS India steel plant in the Anakapalli district on March 23.
Union Heavy Industries and Steel Minister HD Kumaraswamy, Arcelor Mittal executive chairman Lakshmi Niwas Mittal, AM/NS India chairman Aditya Mittal, and others will participate.
"Chief Minister Chandrababu Naidu will lay the foundation for ArcelorMittal Nippon Steel India (AM/NS India) steel plant at Nakkapalli in the Anakapalli district on March 23," an official release said on Saturday.
With a capacity of 17.8 million tonnes per annum, the plant will be set up in 5,465 acres in two phases and will create one lakh direct and indirect jobs.
Under the first phase, the steel plant will have a capacity of 7.3 million tonnes per annum, and in the second phase, it will be 10.5 million tonnes per annum.
Furthermore, AM/NS India will build a 50-million-tonne capacity captive port in 316 acres, linked to the steel plant, at an investment of Rs 11,198 crore, which will create another 6,000 jobs.
The AM/NS India greenfield steel plant is set to play a key role in the Indian steel market, which has grown exponentially, the release said.
"To facilitate the quicker construction of this project, the state government will cooperate in all ways. To connect the steel plant with National Highway-16, a four-lane road extension has been taken up," it said.
On Monday afternoon, Naidu is scheduled to leave for Nakkapalli from Amaravati by helicopter, where he will visit an experience zone at 3.40 pm and examine a model of the steel plant.
Later, he will lay the foundation for the steel plant, exchange agreements with the global steel giant, and return to the greenfield capital city of Amaravati, the release added.