On 5 February 2025, Andhra Pradesh IT and HRD Minister Nara Lokesh urged Union Steel Minister HD Kumaraswamy for early approval of ArcelorMittal and Nippon Steel India’s Steel Plant near Visakhapatnam. The Minister stated that large-scale employment opportunities will be provided to the youth of Andhra Pradesh once the plant starts its operations.
The estimated investment of the plant is Rs 1.40 lakh crore. Lokesh, on the second day of his New Delhi trip, called Kumaraswamy and thanked him for sanctioning a Rs 11,440 crore revival package to Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant.
The IT minister later visited the residence of former Prime Minister HD Deve Gowda and inquired him about his health.
The Minister, being grateful for the revival package of Visakhapatnam Steel Plant, said that the funds were released with generous intent after realising the sentiments of the people and keeping the thousands of workers of the unit in mind.
Nara Lokesh also thanked Kumaraswamy for visiting the steel plant and addressing the problems faced by the workers.
In November 2024, the Andhra Pradesh government announced that steel giants ArcelorMittal and Nippon Steel have come forward to set up a steel plant in Anakapalle district with an investment of Rs 1.40 lakh crore. According to authorities, the plant will be set up in a joint venture with a production target of 17.8 million tonnes.
Also read – Mittal move worries steelworkers even as govt. infuses Rs. 1,650 crore in RINL.
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