₹1.47 Lakh Crore Steel Giant: Anakapalli's Industrial Revolution

The ArcelorMittal Nippon Steel India plant, spearheaded by HRD and IT Minister Nara Lokesh, will be established in Nakkapalli mandal of Anakapalli district with an investment of ₹1,47,162 crore.

Industries Minister TG Bharath announced that the plant will be developed in two phases, generating nearly one lakh jobs. The Integrated Steel Plant will have a total production capacity of 17.8 million TPA, with an initial investment of ₹61,780 crore for 7.3 million tonnes in Phase 1, followed by ₹85,382 crore for 10.5 million tonnes in Phase 2.

The project was first discussed by IT Minister Nara Lokesh and Aditya Mittal during the 2018 World Economic Forum in Davos. However, progress stalled after the 2019 government transition.

Once completed, the plant will be India's largest, attracting further investments to the state.

News by Rahul Yelligetti.