AM/NS India to invest ₹1.4 lakh crore in Andhra Pradesh steel project

By Staff Report November 5, 2024 12:48 pm IST

The AM/NS steel project will be one of the most notable greenfield ventures in recent times. In the first phase, the business will build a blast furnace steel factory with a capacity of approximately 7.3 million metric tonnes per year (MMTPA). This would cost approximately 80,000 INR crore and around 2,600 acres of land.

AM/NS India, a joint venture between ArcelorMittal and Japan’s Nippon Steel, plans to build a 17.8 million metric-tonne integrated steel project in Andhra Pradesh’s Anakapalli district, with an estimated total investment of ₹ 1.4 lakh crore.

The AM/NS steel project will be one of the most notable greenfield ventures in recent times. In the first phase, the business will build a blast furnace steel factory with a capacity of approximately 7.3 million metric tonnes per year (MMTPA). This would cost approximately 80,000 INR crore and around 2,600 acres of land.

The company has sought 2,600 acres of land for the first phase of its steel project in Andhra Pradesh. In the second phase, it plans to increase its capacity to 10.5 MMTPA, requiring an investment of Rs 60,000 crore. The company also requests an additional 2,000 acres. Additionally, the foundation stone is set to be laid in January 2025, aiming for 40 MMTPA by 2035.

AM/NS plans to increase its steel production capacity in Hazira, Gujarat, from 9.6 MMTPA to 15 MMTPA and launch a new greenfield project in Paradip, Odisha, targeting 9-10 million metric tonnes within five years.