Policies of A.P. govt. give a strong sense of trust among industrialists, says Lakshmi Mittal

ArcelorMittal executive chairman Lakshmi Niwas Mittal termed the groundbreaking ceremony of the ArcelorMittal Nippon Steel (AMNS) India integrated steel plant as a special day and said the beginning of the major industrial project is giving shape to a vision that has been in the making for many years.

Addressing the gathering after participating in the groundbreaking ceremony at Nakkapalli in Anakapalli district, Mr. Lakshmi Mittal said the event carries deep personal significance for him.

He said that he always had a vision to build a world-class steel plant in India, the country he loves.

The ArcelorMittal will celebrate its 20th anniversary later this year and the world-class Nakkapalli steel plant also aligns with Prime Minister Narendra Modi’s Make in India, Atmanirbhar Bharat and Viksit Bharat goals.

“The industrial policies of Andhra Pradesh give a strong sense of trust among the industrialists,” he said.

Mr. Lakshmi Mittal said the project will transform Anakapalli into a centre of job creation and a growth engine, adding that the steel plant will generate 1 lakh direct and indirect jobs.

The project, with a total investment of nearly ₹1.5 lakh crore, will be developed in two phases, with Phase 1 involving an investment of ₹70,000 crore. Once completed, the plant will have a production capacity of 17.8 million metric tonnes per annum, positioning it among the largest steel manufacturing hubs in the country.

ArcelorMittal CEO Aditya Mittal said the pace at which the project had got the required permissions showcased the government’s sincerity in impelemeting the ‘Speed of Doing Business’ initiative.

“I am sure these transparent policies will ensure speedy development. This project stands as an example of the confidence that industrialists and investors have in Andhra Pradesh government,” he said.

He said the steel produced at the plant will be exported across the globe and cater to the domestic requirements.