New Delhi, May 24, Gujarat-based AM/NS India announced on Tuesday that it would invest Rs 1,000 crore in Andhra Pradesh to expand its pellet plant capacity. In a statement issued here, AM/NS India said the sum would be used to expand the capacity of its pellet plant in Visakhapatnam to 11 million tonnes per annum (MT) from the current 8 tonnes.

“ArcelorMittal Nippon Steel India has confirmed a proposed investment of INR 10 billion to expand its Vizag pelletising plant in Andhra Pradesh,” the company said. The planned expansion will allow Vizag’s pellet production Ability to increase by 35 per cent.

“We welcome these significant investments by ArcelorMittal and AM/NS India in Andhra Pradesh, which reinforces the state’s leadership in attracting pioneering manufacturing and renewable energy projects that not only support India’s steel manufacturing ambitions and contribute to the country’s decarbonisation efforts for the industry,” Andhra Pradesh Chief Minister Jagan Mohan Reddy said in a statement.

According to the statement, the CM made the remarks after a meeting with Aditya Mittal, CEO of parent company ArcelorMittal and chairman of AM/NS India, at the World Economic Forum in Davos. According to the statement, the CM made the remarks after a meeting with Aditya Mittal, CEO of parent company ArcelorMittal and chairman of AMNS India, at the WEF in Davos. Dilip Oommen, CEO of AMNS India, said: “We are delighted to strengthen our commitment to the country with further investments to expand our pellet manufacturing facility in Visakhapatnam significantly.”

ArcelorMittal is also investing $600 million to build 1,000 megawatts (MW) of solar power capacity in the world’s largest 5,230 MW renewable energy project under construction by Greenko Group in Kurnur Andhra Pradesh. ArcelorMittal is also investing $600 million to build 1,000 megawatts (MW) of solar power capacity in the world’s largest 5,230 MW renewable energy project under construction by Greenko Group in Kurnur Andhra Pradesh.