Davos, January 21: Andhra Pradesh Chief Minister N. Chandrababu Naidu announced a landmark Rs1.4 lakh crore investment by ArcelorMittal/Nippon Steel for a 17.8-million-ton integrated steel project in Anakapalli, during his visit to the World Economic Forum (WEF) in Davos.

Key Points
1. Major steel project announced at Davos by ArcelorMittal-Nippon Steel
2. Green energy initiatives supporting sustainable industrial development
3. Potential for job creation and economic growth in Andhra Pradesh

Naidu posted on X, "Met with the Executive Chairman of @AMNSIndia , Lakshmi N. Mittal, and CEO Mr. Aditya Mittal, in Davos today. ArcelorMittal/Nippon Steel has recently made a landmark investment of Rs1.4 lakh crore for a 17.8-million-ton integrated steel project in Anakapalli. This initiative stands out as one of the largest greenfield projects in recent times! #InvestInAP"

Accompanied by Ministers Nara Lokesh and T.G. Bharat, Naidu met with Lakshmi Mittal, Executive Chairman of the Mittal Group, and Aditya Mittal, CEO of ArcelorMittal, to discuss the progress of the integrated steel plant.

The delegation highlighted Andhra Pradesh's investment-friendly ecosystem and strategic advantages, inviting further industrial collaborations.

State Minister for Education, IT, and Electronics Nara Lokesh urged Mittal to consider developing Bhavanapadu into a world-class petrochemical hub.

He outlined its planned port capacity of 83.3 MTPA, robust infrastructure, and the presence of the Indian Institute of Petroleum and Energy in Vizag as key enablers for R&D, manufacturing, and logistics in petrochemicals and green energy.

Lokesh also proposed a Rs3,500 crore investment under HPCL-Mittal Energy Limited (HMEL), a joint venture between Hindustan Petroleum Corporation Limited (HPCL) and Mittal Green Energy Limited, to establish a 2 GW solar cell manufacturing plant in Andhra Pradesh. The project, aimed at creating 2,000 jobs, received a positive response and assurances of government support.

Lakshmi Mittal shared updates on the company's ventures in the state, including renewable energy projects in collaboration with Greenko to develop 975 MW of solar and wind capacity.

The clean energy will power the Anakapalli steel plant, reducing carbon emissions by 1.5 million tons annually. Additionally, Mittal announced a 1 MT green ammonia project in Kakinada, aligning with Andhra Pradesh's push for sustainable energy.