By Our Special Correspondent
Nippon Steel India has confirmed a proposed investment of Rs 1,000 crore towards Brownfield expansion of its Vizag pellet plant in Andhra Pradesh,” the Gujarat-based company said in a statement on Tuesday. The planned expansion will increase 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 CEO of parent company of ArcelorMittal and Chairman of AMNS India Aditya Mittal, at the World Economic Forum in Davos. The chief minister made the remarks after a meeting with Aditya Mittal, CEO of parent company 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”.
Arcelor Mittal has also made an investment of USD 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 by Greenko Group in Kurnool, Andhra Pradesh. We welcome these significant investments in Andhra Pradesh through ArcelorMittal and AMNS India, which will not only support India's steelmaking growth aspirations but also strengthen the state leadership in attracting pioneering manufacturing and renewable projects that will contribute to the country's efforts for progress. Industrial decarburization. "
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