Foundation Laid for Mega Steel Plant in Visakhapatnam

The upcoming ArcelorMittal steel plant is set to transform Visakhapatnam into a major industrial hub, said Anagani Satya Prasad, Minister for Revenue, Stamps and Registrations. He credited the vision of Chief Minister Nara Chandrababu Naidu and the efforts of Minister Nara Lokesh for bringing the project to the state. Speaking in Amaravati, the minister described the project as a historic milestone in the state’s industrial development, with a massive investment of ₹1.36 lakh crore in the steel sector.

The foundation stone for the project will be laid at Rajayyapeta in the presence of Union Steel Minister H. D. Kumaraswamy along with several central and state leaders. The project is expected to generate employment for over one lakh people. Additionally, a captive port will be developed with an investment of ₹11,198 crore, creating around 6,000 more jobs. The initiative is expected to significantly boost industrial growth and employment opportunities in the region.