Davos: Andhra Pradesh Chief Minister Chandrababu, along with ministers Nara Lokesh and TG Bharath, met with Lakshmi Mittal, Executive Chairman of ArcelorMittal, during the World Economic Forum in Davos. During the meeting, Lokesh invited Mittal to invest in the establishment of a petrochemical hub in Bhavanapadu, highlighting its strategic location for petrochemical exploration.
Lokesh also proposed the setting up of a solar cell manufacturing plant in the state and discussed the benefits of Andhra Pradesh’s infrastructure, including the 83.3 MTPA capacity port, the Indian Institute of Petroleum and Energy in Visakhapatnam, and the government’s strong support for industrial development. He emphasized the potential of the Bhavanapadu-Moolapet region for manufacturing, R&D, logistics, and innovations in petrochemicals and green energy.
Lokesh further urged the establishment of a 2 GW solar cell manufacturing plant under HPCL-Mittal Energy Limited with an investment of ₹3,500 crore. This project is expected to create employment for 2,000 people, with the Andhra Pradesh government offering full support.
ArcelorMittal to Provide Continuous Renewable Power to Steel Plant in Andhra Pradesh
Lakshmi Mittal also provided insights into ArcelorMittal’s plans to set up a Greenfield steel project in Andhra Pradesh in collaboration with Nippon Steel of Japan. The project, with a 17.8 million-ton capacity, involves an investment of ₹1.4 lakh crore and will be implemented in two phases near Anakapalli.
Mittal highlighted that ArcelorMittal has partnered with Greenko Group to develop a 975 MW renewable energy capacity, including solar, wind, and hydro pump storage. The renewable power generated will be supplied to the Anakapalli steel plant, reducing annual carbon emissions by 1.5 million tons.