India's ArcelorMittal Nippon Steel Limited (AMNS) has completed the groundbreaking ceremony for the construction of a new steel mill with a capacity of 8.2 million tons per year, which will entail investments of $65.46 billion in the southern state of Andhra Pradesh, the company said in a statement on Tuesday, March 24.
The project will be built in two stages with a production capacity of 17.8 million tons per year. The first stage of the 8.2 million-ton mill will be commissioned by early 2029. Additional investments of $11 billion will be directed to the construction of a captive port with a capacity of 50 million tons of cargo per year. At the second stage, the plant's capacity will be further expanded to 17.8 million tons per year with a total investment of about $136.54 billion.
The first phase requires a total area of 2,200 acres, of which about 890 acres were originally allocated for another project by the government, the company said.
The company stated that the existing sludge pipeline infrastructure, which originates at NMDC Limited's Bailadila mines in Chhattisgarh state and currently serves the AMNS pellet plant, which has been redirected near Peddapeta village, is one of the main reasons why the project has been fast-tracked.
"The demand for high-quality domestic steel will only grow. This plant will produce advanced steel with added value. We are looking not only at the domestic market, but also
