ArcelorMittal has laid the foundation stone for a new integrated steel plant to be developed by its joint venture, ArcelorMittal Nippon Steel India (AM/NS India), at Rajayyapeta in Andhra Pradesh, the company said in a press release.
The project, with an estimated investment of over USD 7.5-8 bln, will be implemented in phases, with steelmaking operations expected to commence by the first quarter of 2029.
The plant will produce a range of value-added steel products and is expected to generate more than 100,000 direct and indirect jobs. Its coastal location and proximity to an existing slurry pipeline connected to major iron ore deposits are expected to support cost-efficient operations.
The development forms part of ArcelorMittal’s strategy to expand its footprint in India, where steel demand is supported by infrastructure, urbanization and industrial growth. The project also complements ongoing capacity expansion at AM/NS India’s Hazira plant.
India aims to reach 300 mln tons of crude steel capacity by 2030-31, with new large-scale projects expected to play a key role in achieving this target.
AM/NS India is a joint venture between ArcelorMittal and Nippon Steel. The company operates 9 mln tons per year of crude steel capacity in India, along with downstream facilities and 20 mln tons per year of pellet capacity, producing a diversified range of flat and value-added steel products.
