ArcelorMittal Nippon Steel (AMNS) India announced a Rs 1,000 crore investment in Andhra Pradesh to increase its pellet production capacity in Vizag.
At the World Economic Forum (WEF) meeting in Davos, Andhra Pradesh Chief Minister Jagan Mohan Reddy met with big-ticket firm CEOs and inked three memorandums of understanding for green energy generation.
“ArcelorMittal Nippon Steel India has confirmed a proposed investment of INR 1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh,” the company said in a statement.
The planned expansion will increase pellet production capacity at Vizag by 35 per cent, from 8 MTPA to 11 MTPA.
This investment follows a recent announcement by ArcelorMittal, a parent company of AM/NS India, to develop a ‘round the clock’ renewable energy project with 975 MW of nominal capacity, also in the state of Andhra Pradesh.
