Latest News | AMNS India Commits Rs 1,000 Cr Investment in Andhra Pradesh to Expand Pellet Plant Capacity

New Delhi, May 24 (PTI) Gujarat-based AMNS India on Tuesday announced it will make a Rs 1,000-crore investment in Andhra Pradesh to expand its pellet plant capacity.

The amount will be used to expand the capacity of its pellet plant in Visakhapatnam to 11 million tonnes (MT) per annum from 8 MT at present, AMNS India said in a statement issued here.

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"ArcelorMittal Nippon Steel India has confirmed a proposed investment of INR 1,000 crore towards brownfield expansion of its Vizag pellet plant in Andhra Pradesh," it said.

The planned expansion will increase pellet production capacity at Vizag by 35 per cent, it said.

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"We welcome these significant investments by ArcelorMittal and AM/NS India to Andhra Pradesh, which reinforce the state's leadership in attracting pioneering manufacturing and renewables projects that will not only support India's steel making growth ambitions, but also assist the country's efforts to advance industrial decarbonisation," the statement quoted Andhra Pradesh Chief Minister Jagan Mohan Reddy as saying.

According to the statement, the chief minister made the remarks after a meeting with Aditya Mittal, CEO of parent company ArcelorMittal and Chairman of AMNS India at the World Economic Forum in Davos.

Dilip Oommen, CEO of AMNS India, said, "We are pleased to strengthen our commitment to the state with a further investment to significantly expand our pellet manufacturing plant in Visakhapatnam."

ArcelorMittal has also made an investment of USD 600 million for setting up of 1,000 megawatt (MW) solar capacity in the world's largest 5,230 MW renewable energy project being set by Greenko Group in Kurnool, Andhra Pradesh.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)