ArcelorMittal Nippon Steel (AM/NS) India is set to receive incentives worth up to Rs 28,000 crore from the Andhra Pradesh government for the first phase of its integrated steel plant in Anakapalli.

This substantial support package is aimed at facilitating the establishment of the greenfield project, which will initially have a production capacity of 7.3 million tonne. The steel major, currently the fourth-largest in India, has already initiated land acquisition for the project.

AM/NS plans to invest Rs 56,000 crore in the plant's first phase, spanning around 2,200 acres, with an adjacent 440-acre township. The project is expected to be completed by January 2029.

The incentives will be disbursed over 20 years, contingent on AM/NS meeting specific project timelines, investment benchmarks, and employment targets. The package includes 100 percent reimbursement of net State GST and sales tax for 15 years, exemption from stamp duty and registration charges, electricity duty exemption for 15 years, and subsidised power at Re one per unit for the same duration. Additionally, industrial water will be provided at Rs 50 per kilolitre for 10 years.