Kamal Ghorui
ANAKAPLLI: Billionaire steel magnate Lakshmi Mittal on Monday launched his most ambitious greenfield project in India, breaking ground on a new steel plant in Andhra Pradesh. ArcelorMittal, where Mittal serves as chairman, will invest over Rs 70,000 crore to build an 8.2 million-tonne steel facility in Anakapalli.The move signals a renewed push into India, where earlier greenfield projects in Jharkhand, Odisha, and Karnataka did not materialise. Mittal later entered through acquisitions. “For last two decades, we had a vision to build a greenfield steel plant in India,” Mittal said. “We explored opportunities, waited for right moment, and in 2019, together with our partner Nippon Steel, we acquired a major manufacturing presence (referring to acquisition of Essar Steel in India). It was a wonderful start, but only the beginning.”The AP plant is expected to begin operations by early 2029, taking ArcelorMittal Nippon Steel India’s capacity to 23 million tonnes. Its Hazira plant in Gujarat will expand from nine million tonnes to 15 million tonnes. The project will be among the largest industrial investments in Andhra, second only to Google (Rs 87,520 crore), reflecting growing investor interest as India expands its manufacturing base. Mittal, 75, recalled his first steel plant in Indonesia in 1976, which laid foundation for his global empire. “Half a century has passed since I set up first plant, and I still remember the excitement of those early days. I feel the same sense of possibility about what we are starting now. After fifty years in steel, I can honestly say this project in India is one of the highlights of that journey,” he said.Nara Lokesh, AP minister for IT, electronics and HRD recalled the effort to bring the project: “In 2019, I first approached Aditya Mittal (Mittal’s son and CEO of ArcelorMittal) about investing in AP. He was exploring other states, but I persisted.”
