ArcelorMittal to Invest Rs 61,780 Crore in Andhra Pradesh Steel Plant, Creating 21,000 Jobs

In its first meeting since the TDP-led NDA came to power, the State Investment Promotion Board (SIPB) of Andhra Pradesh approved an investment of Rs 85,083 crore, set to create 33,966 jobs. A major highlight was the approval of ArcelorMittal Nippon Steel India’s (AM/NS India) integrated steel plant with a captive port at Bagaraiahpeta near Nakkapalli, Anakapalle district. The steel plant, with an initial investment of Rs 61,780 crore, will generate 21,000 jobs.

The SIPB meeting, led by Chief Minister N Chandrababu Naidu, also cleared projects from LG Electronics India Pvt Limited, which will invest Rs 5,001 crore to create 1,495 jobs, and Kalyani Strategies System Limited, investing Rs 1,430 crore to offer 565 jobs. Other approved proposals include investments from Phillips Carbon Black Limited (Rs 3,798 crore for 200 jobs) and Azad India Mobility Limited (Rs 1,046 crore for 2,381 jobs).

The meeting focused on the progress of MoUs signed over the past five months, aiming to boost industrial growth in the state. Naidu stressed the importance of protecting land donors’ welfare, urging the adoption of land pooling systems for projects like the ArcelorMittal steel plant. The Chief Minister also emphasized training and skill development for those voluntarily donating land and the need for transparent land acquisition policies, drawing comparisons to the Amaravati model.

Naidu expressed his support for Deputy Chief Minister Pawan Kalyan’s view that while investments are crucial, the future of land donors should be equally prioritized. He further directed officials to ensure smooth land acquisition and track investments closely to remove obstacles. The Chief Minister also called for increased efforts to attract more investments and emphasized the importance of cooperation with investors to create employment opportunities for the youth.