ArcelorMittal Nippon Steel's ₹1.47 Lakh Cr Vizag Steel Leap

ArcelorMittal Nippon Steel India is set to invest ₹1.47 lakh crore in a large-scale steel plant in Visakhapatnam, following public consultation hearings. The project will be developed in two phases, with the first phase expected to be completed by January 2029, featuring an annual production capacity of 7.3 million tonnes. Upon full completion by 2033, the plant’s capacity will increase to 10.5 million tonnes.

The facility will be spread across Bucchirajupeta, Chandanada, DL Puram, Rajayyapeta, and Vempadu, and is anticipated to generate approximately 61,000 job opportunities.

As part of the project, a dedicated captive port is also planned, requiring 128 hectares of coastal land. An investment of ₹11,199 crore has been allocated for the port’s development—₹5,816 crore for the first phase (five berths) and ₹5,383 crore for the second phase (12 berths). The port is expected to create an additional 8,000 jobs.

To support the expansion, the state government is preparing to acquire 4,000 acres of land for the second phase of the project.

News by Rahul Yelligetti.