India’s ArcelorMittal Nippon Steel Limited (AMNS) has commenced acquisition of land parcels in the southern state of Andhra Pradesh to construct its proposed greenfield steel mill with an initial capacity of 7.3 million mt per year, a company statement said on Monday, March 31.
However, AMNS did not provide any details on investments to be riding on the project of the final capacity planned.
"Our investment today is the first step in an exciting plan to build a world-class steel plant in Andhra Pradesh that strengthens our contribution to India's long-term steel manufacturing ambitions," AMNS CEO, Aditya Mittal, said in the statement.
Based at Hazira in Gujarat, AMNS India is a 60:40 joint venture company of Luxembourg-based ArcelorMittal and Nippon Steel of Japan, operating a steel mill capacity of 9 million mt per year of crude steel.