AM/NS to set new plant in Andhra, to invest over Rs 61,000 crore
The joint venture (JV) of ArcelorMittal and Nippon Steel, AM/NS India would set up an integrated steel plant including a captive port at Bagaraiahpeta near Nakkapalli in Anakapalle district in Andhra Pradesh. The plan is to invest Rs 61,780 crore.
The State Investment Promotion Board (SIPB) approved the investment for the project. LG Electronics India Pvt Limited will invest Rs 5,001 crore, Kalyani Strategies System Limited will set up its plant with Rs 1,430 crore, Phillips Carbon Black Limited will invest Rs 3,798 crore, and Azad India Mobility Limited will invest Rs 1046 crore in the state.
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