PM Modi to Lay Foundation for Rs 60,000 Crore ArcelorMittal Steel Plant in Andhra Pradesh

Prime Minister Narendra Modi is scheduled to lay the foundation stone for ArcelorMittal’s ambitious greenfield steel plant near Nakkapalli in Anakapalle district of Andhra Pradesh. The project, with an initial investment of Rs 60,000 crore, marks one of the largest industrial commitments in the state in recent years and signals renewed momentum in India’s core manufacturing sector.

The multiphase development will begin with substantial capital deployment in the first phase, followed by capacity expansion in subsequent stages. Once operational, the plant is expected to significantly enhance domestic steel production and strengthen India’s position in the global metals market. Industry observers view the project as a strategic step toward expanding capacity to meet rising infrastructure and construction demand across the country.

Beyond production, the project is poised to transform the economic landscape of the region. Large scale direct and indirect employment opportunities are anticipated during both the construction and operational phases. The investment is also expected to stimulate ancillary industries, logistics networks, and local supply chains, creating a broader industrial ecosystem in and around Anakapalle district.

The presence of senior Union and state leaders at the foundation ceremony underlines the importance attached to the project. For Andhra Pradesh, the steel plant represents a major push toward industrial diversification and long term economic stability. Improved infrastructure, increased investor confidence, and enhanced regional connectivity are likely to follow as the project progresses.

As India accelerates its infrastructure expansion and manufacturing ambitions, large scale investments such as this reinforce the country’s commitment to industrial growth, job creation, and sustainable economic development.