Rajayyapeta (Andhra Pradesh), March 23 Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation stone for the Rs 1.36 lakh-crore ArcelorMittal Nippon Steel India steel plant here in the Nakkapalli mandal of the Anakapalli district on Monday.
With a capacity of 17.8 million tons per annum, the plant will be set up on 5,465 acres in two phases and will create one lakh direct and indirect jobs, according to the government.
In the first phase, the steel plant will have a capacity of 7.3 million tons per annum, and in the second phase, it will have a capacity of 10.5 million tons per annum.
Furthermore, AM/NS India will build a 50-million-ton capacity captive port on 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.
An official press release earlier stated that the state government will always cooperate for the quicker construction of this project.
To connect the steel plant with National Highway 16, a four-lane road extension has been taken up, it added.