Lakshmi Mittal has finally realised a long-cherished dream of over 20 years by launching a major steel plant project in India. ArcelorMittal, in partnership with Nippon Steel, has laid the foundation for an 8.2 million tonne greenfield facility in Andhra Pradesh.
The project, being developed under ArcelorMittal Nippon Steel India, involves an investment of around ₹70,000 crore, with the first phase expected to be completed by 2029.
Mittal revealed that the company had explored multiple opportunities across states like Jharkhand, Odisha, and Karnataka over the years, but faced delays and setbacks before finding the right conditions to move forward.
The breakthrough came after the 2019 acquisition of Essar Steel, which gave the group a strong foothold in India’s manufacturing ecosystem and paved the way for this large-scale expansion.
The new plant is expected to produce high-quality, value-added steel and support India’s growing demand across infrastructure, energy, mobility, and manufacturing sectors, aligning with the country’s push for self-reliance and industrial growth.
