Andhra Pradesh Chief Minister N. Chandrababu Naidu has announced that the foundation stone for the proposed ArcelorMittal Nippon Steel plant in Anakapalli district will be laid after February 15, 2026. The announcement came during his participation at the World Economic Forum (WEF) in Davos, Switzerland, where he met with ArcelorMittal executives, including Lakshmi N. Mittal, to discuss the project and its progress.
The steel plant is expected to be a major industrial investment, with an estimated outlay of around ₹60,000 crore. It is seen as a key initiative to boost industrial growth, local employment, and infrastructure development in Andhra Pradesh. The project is anticipated to bring significant opportunities for ancillary industries and increase the state’s contribution to the steel sector.
Naidu emphasized that all land acquisition, clearances, and statutory approvals must be completed by February 15 to allow the groundwork to begin without delays. He also assured that the Andhra Pradesh government will extend full support to ensure the plant’s construction and eventual production start smoothly.
The CM’s meetings in Davos highlighted Andhra Pradesh’s ambition to attract global investments beyond the steel sector. He engaged with international business leaders to explore opportunities in tourism, hospitality, and artificial intelligence training for youth, positioning the state as a favorable destination for both industrial and knowledge-based investments.
Officials said the ArcelorMittal Nippon Steel plant is expected to have a multiplier effect on the local economy, providing direct and indirect employment to thousands of people and supporting regional infrastructure projects. The plant’s development aligns with the state government’s strategy to promote large-scale industrialization while fostering innovation and skill development among the youth.
With the foundation stone ceremony scheduled soon, Andhra Pradesh is signaling its commitment to creating a business-friendly environment, completing clearances on time, and collaborating with international investors to accelerate industrial growth. The project is widely regarded as a transformative initiative for the state’s economy and a significant step in attracting global manufacturing investments.
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