AMNS to invest Rs 1,000 cr to expand Vizag pellet plant

Vijayawada: ArcelorMittal Nippon Steel India (AMNS) has agreed to invest Rs 1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh. The Gujarat-based company in a statement said they plan to expand the increase in pellet production capacity at Vizag by 35 per cent to 11 MT from 8 MT, it said.

This decision was announced after Chief Minister YS Jagan Mohan Reddy had a meeting with Aditya Mittal, CEO of parent company of ArcelorMittal and Chairman of AMNS India at the World Economic Forum in Davos.

Dilip Oommen, CEO of AMNS India, said, "We are pleased to strengthen our commitment to the state with a further investment to significantly expand our pellet manufacturing plant in Visakhapatnam."

It may be mentioned here that ArcelorMittal had also made an investment of $600 million for setting up of 1,000 megawatts (MW) solar capacity in the world's largest 5,230-MW renewable energy project being set up by Greenko Group in Kurnool, Andhra Pradesh. The Chief Minister said, "We welcome these significant investments by ArcelorMittal and AMNS India to Andhra Pradesh, which reinforce the state's leadership in attracting pioneering manufacturing and renewables projects that will not only support India's steel making growth ambitions but also assist the country's efforts to advance industrial decarbonisation."