AM/NS India lays foundation stone for greenfield steel plant

The project is set to be a low-cost, 8.2Mt/year integrated steel plant that will support ArcelorMittal’s long-term growth.

Lakshmi Mittal, Executive Chairman, ArcelorMittal, said: “I have been in the steel industry now for 50 years, and I can honestly say that what we are building here in India is one of the highlights of these 50 years. It means a lot to me that we are able to contribute so meaningfully towards India’s journey toward Viksit Bharat, demonstrating how world-class steelmaking can power sustainable growth and national self-reliance.

“Thank you to everyone who is supporting this project, which I hope will also be transformational for the local communities and the state of Andhra Pradesh more broadly.”

The Rajayyapeta plant will produce a range of high-quality, value-added steel products as well as generate over 100,000 direct and indirect jobs.

The plant’s proximity to the coastline and existing slurry pipeline enables easy connection to one of the country’s richest iron-ore deposits. Due to this, ArcelorMittal hopes it will be one of the lowest-cost, most competitive plants in India.

The total investment in the project is estimated at over $7.5 billion, which will be deployed in a phased manner.

Aditya Mittal, CEO of ArcelorMittal, said: “South India is one of the fastest growing markets with excellent logistics, and so the plant will be able to cater to all the customers in the region as well as more broadly throughout India. Now the construction will start – and the focus will be on ensuring that this is managed with safety always at the core.

“I look forward to seeing the progress and celebrating the major construction milestones along the way. The completion of this facility will further augment the position of ArcelorMittal Nippon Steel India as one of the leading steel companies in the country.”

Operations are set to commence in the first quarter of 2029.