ArcelorMittal Nippon Steel initiates land buying process for new plant in Andhra Pradesh
Steel sector major ArcelorMittal Nippon Steel has started the process of land acquisition at Rajayapeta in Andhra Pradesh to set up an integrated steel plant. The proposed project is expected to cost Rs 1.40 lakh crore, and will begin with an initial capacity of 7.3 million tonnes, funded by Rs 80,000 crore.
This would be the first large greenfield plant to be set up in the country in nearly a decade, after the first phase of Tata Steel's Kalinganagar project was commissioned in 2016 with an initial capacity of 3 million tonnes.
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