ArcelorMittal Nippon Steel India plans to invest ₹1,000 crore in the brownfield expansion of its pellet plant at Visakapatanam in Andhra Pradesh. The expansion will increase pellet production capacity by 35 per cent to 11 million tonne per annum from 8 mtpa.
The company intends to complete the expansion project in 2023, subject to receiving Environmental Clearance in the coming months. AM/NS India’s Vizag pellet plant is already connected to a slurry pipeline in Chhattisgarh, which ensures a clean and efficient method of raw material transportation required for pelletization from source to plant.
The investment follows a recent announcement by ArcelorMittal, a parent company of AM/NS India, to develop a ‘round the clock’ renewable energy project with 975 MW of nominal capacity with an investment of ₹4,600 crore also in Andhra Pradesh.
Solar and wind power combo
The project will combine solar and wind power, and is supported by Greenko’s hydro pumped storage project which helps to overcome the intermittent nature of wind and solar power generation. Round the clock power of 250MW will result in over 20 per cent of the electricity requirement at AM/NS India’s Hazira plant coming from renewable sources, reducing carbon emissions by approximately 1.5 million tonnes per year.
Commenting after a meeting with Aditya Mittal, CEO of ArcelorMittal and Chairman of AM/NS India, at the World Economic Forum in Davos, Jagan Mohan Reddy, Chief Minister of Andhra Pradesh, said the State’s leadership in attracting renewable projects will not only support India’s steel making growth ambitions but also assist the country’s efforts to advance industrial decarbonisation.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.