Andhra Pradesh will mark a major step in its industrial development with the foundation laying of a large integrated steel plant in the Anakapalli district today.
Chief Minister N. Chandrababu Naidu will lay the foundation stone along with Union Minister for Heavy Industries and Steel H. D. Kumaraswamy and other Union Ministers from the state.
They are scheduled to visit the project site in the afternoon, review the plant model, and later address a public gathering.
The project is being set up by ArcelorMittal Nippon Steel India with an investment of 1.36 lakh crore rupees, the largest in the state’s steel sector to date.
The plant will be located at Rajayyapeta in Nakkapalli mandal, with a proposed annual production capacity of 17.8 million metric tonnes. It is expected to generate employment for nearly one lakh people.
The greenfield integrated steel project will be implemented in two phases.
A captive port, estimated at 11,198 crore rupees, is also planned as part of the project, with the potential to create around Six Thousand additional jobs.
Prominent industry leaders, including Lakshmi N. Mittal and Aditya Mittal, are expected to attend the event.
The state government has initiated supporting infrastructure, including a four-lane road connecting the site to National Highway 16.
