Latest news with #ArcelorMittalNipponSteel
Hans India
3 days ago
- Business
- Hans India
Home Minister assures justice to displaced families through R&R package
Anakapalli: Home Minister Vangalapudi Anitha informed that as part of the Relief and Rehabilitation (R&R) package, a layout with all facilities is being facilitated for displaced families who gave lands to set up a bulk drug park and an AM/NS Steel Plant in the district. Holding a meeting with leaders of DL Puram, Rajayyapeta, Buchi Rajupeta, Chandanada, and Vempadu villages of Nakkapalli mandal here on Saturday, the Home Minister mentioned that the district is very conducive to industrial development with its wide coastline and national highway connectivity. The Home Minister said that a bulk drug park and ArcelorMittal Nippon Steel industry will be established in the district. Anitha stated that proposals are being made to set up a toy park in the district, which will provide employment to 25,000 women. Giving importance to the displaced families, the Home Minister said that a layout with all amenities will be set up in an area of 151 acres at Bodhigalam village. She informed that each family is being provided with five cents of land and Rs.9 lakh for construction of a house. The Home Minister said that a total of Rs.693 crore was allotted as an R&R package and Rs.209 crore will be spent on setting up the infrastructure in the layout. Further, Anitha mentioned that facilities like school, Anganwadi centre, community hall, playground will form a part of the layout. It has been identified that there are 289 educated youth in the displaced villages, and they will be given skill development training by spending Rs.30,000 on each youth to get employment. She appealed to the people to cooperate in the government's vision to develop the district and resolve problems in a harmonious manner. The Sarpanches and leaders of the displaced villages brought their issues to the notice of District Collector Vijaya Krishnan and officials of the APIIC and revenue department. Responding to them, the Minister assured them that steps will be taken to resolve them at the earliest. At Uddandapuram village in Payakaraopeta constituency, the Home Minister distributed pensions to the beneficiaries. Visiting one of the residents' houses Govind, the Home Minister made tea and served it to his family members. Later, she inaugurated the second phase of the free gas cylinder distribution programme.
Time of India
27-05-2025
- Business
- Time of India
AM/NS India to get Rs 28,000 crore sop from Andhra Pradesh for new steel plant
Andhra Pradesh government is set to provide incentives to Arcelor Mittal Nippon Steel (AM/NS) India. The incentives are worth up to Rs 28,000 crore. This is for the first phase of their integrated steel plant in the state. The plant will be located in Anakapalli. The initial capacity will be 7.3 million tonnes. Tired of too many ads? Remove Ads Mumbai: AM/NS India is set to get incentives worth up to Rs 28,000 crore from the government of Andhra Pradesh for the first phase of the integrated steel plant the company plans to set up in the state, sources aware of the development the fourth-largest producer of steel in the country, has begun the land acquisition process at Anakapalli in Andhra Pradesh, where its greenfield plant will have an initial capacity of 7.3 million incentives will be spread over a period of 20 years, and contingent upon the company sticking to definite timelines for implementing the project, the investment involved and the number of jobs it is expected to generate, they incentives planned include exemption of stamp duty and registration fees for the land purchased, 100% reimbursement of net State and Goods Services Tax and sales for a period of 15 years and an exemption on electricity duty for a period of 15 incentives to be provided by the state government include the reimbursement of power at a rupee per unit for a period of 15 years, and supply of industrial water at 50 rupees per KL for a period of 10 steel producer will invest close to Rs 56,000 crore in the first phase, which is expected to be completed by January 2029, sources said. The first phase will be spread across approximately 2,200 acres, with a township planned across a stretch of an additional 440 acres.
Time of India
16-05-2025
- Business
- Time of India
Land verification starts for ArcelorMittal's plant in Kendrapada
Kendrapada: Kendrapada district administration started land verification work (LVW) to acquire 383 acres for ArcelorMittal Nippon Steel's (AM/NS) proposed steel plant in Badatubi village under Mahakalapada block. Tired of too many ads? go ad free now The verification process follows the state govt's notification issued last Dec under the and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. The land acquisition marks the first phase of the Rs 1.02 lakh crore project to establish a 24 million tonnes per annum (MTPA) steel plant. "We are identifying rightful landowners by examining official records, including record of rights, title deeds, and encumbrance certificates," said Kuini Jena, land acquisition officer-cum- deputy collector. The process involves revenue inspectors, amins, tehsildar, and panchayat body members. The project, announced during chief minister Naveen Patnaik's Japan visit in April 2023, is set to become the world's largest steel plant, surpassing Posco's 23 MTPA facility in South Korea. Executive chairman Lakshmi Niwas Mittal visited the proposed site in Aug 2021. However, the project has received mixed reactions from locals. "The pollution from existing industrial units in Paradip has already affected our health. We oppose this new plant," said Parikhita Mandal, a resident. Rabindranath Manna, a farmer, expressed concerns about losing traditional livelihoods dependent on rice, betel vines, and fishing. Meanwhile, Bharat Haldar welcomed the development, hoping it would improve infrastructure in the remote village. Some residents, like Arakhita Sardar, support the project but demand higher compensation, suggesting Rs 50 lakh per acre. The administration assures fair compensation for displaced villagers, with plans for additional land acquisition in subsequent phases.
Mint
21-04-2025
- Business
- Mint
India imposes safeguard duty on imports to protect domestic steel cos from Chinese dumping post Trump tariff
New Delhi: The government on Monday imposed a 12% safeguard duty on steel imports in a move to protect the domestic steel industry. The threat of a flood of cheap imports has risen post Trump's tariffs that make it uneconomical for Chinese steel to sell to the US market. As per a government notification issued on Monday by the ministry of finance, the safeguard duty would be applicable for 200 days with effect from Monday, 21 April. 'The safeguard duty imposed through this notification will remain in effect for 200 days from the date of its publication, unless it is earlier revoked, superseded, or amended,' the finance ministry notification stated. The surplus Chinese steel now threatens to flood major markets, including India, with cheap products, creating an imbalance that could affect Indian steel companies. The notification from the finance ministry is being issued following the proposal by the Directorate General of Safeguards (DGS), which recommended a temporary safeguard duty for 200 days. "The commerce ministry had recommended the safeguard duty proposal to the finance ministry for implementation via a notification," a government official said. The steel industry claims cheaper imports not just from China but also from Japan and South Korea impacted their profits and expansion plans. Ranjan Dhar, director & vice president - sales and marketing at Arcelor Mittal Nippon Steel (AMNS), told a recent event to announce a green steel initiative, 'The domestic steel industry needs protection as the Indian market does not have more appetite for imported steel that has already risen in recent months." 'We welcome the government's decision to impose a safeguard duty on certain steel imports. This is a critical step in addressing the surge of unfairly priced imports to India," said T. V. Narendran, CEO & MD, Tata Steel. "As we have highlighted before, unchecked imports—especially from countries with significant excess capacity—threaten domestic manufacturing, employment, and future investments. This decision will help restore fair competition, ensure the industry's long-term sustainability, and support India's vision of a self-reliant and globally competitive steel sector.' Earlier, Mint reported on 10 March that the DGTR had submitted its report recommending the imposition of up to 15% safeguard duty on steel imports. The steel industry had earlier asked for at least a 25% safeguard duty on the metal, same as the US duty on steel and aluminium. Officials explained that a safeguard duty is faster to implement and provides the desired results. It is needed to check cheaper imports as a substantial share of imports also come on the back of free trade agreements and raising the customs duty would not have helped check it. A safeguard duty will, however, be applicable on all imports and is a 'complaint tax mechanism' with all international trade pacts. Government data shows India's steel imports in FY25 soared to 9.5 million tonnes (mt), the highest since FY16, while exports crashed to a decade's low of 5 mt. India has also become a net importer of the metal as last year country's steel trade deficit hit a 10-year high of 4.5 mt. Between FY16 and FY25, India's steel imports have averaged in the 7 mt range, except in FY25 when it shot up 15% to 9.5 mt as compared to 8.3 mt in the previous year. Exports, which have been in the 8–9 mt range, dropped 35% y-o-y to 5 mt (vs 7.5 mt in FY24). China is the biggest contributor to the rise in imports last year followed by South Korea and Japan. Vietnam, which is being used by Chinese companies, has been flagged by various government departments, has also been a big contributor to Indian steel imports. Industry welcomed the move. 'These cheaper imports, especially from China, are not the best quality but the Indian industry buys it since it's cheap. If this trend continues, Indian companies may have to reconsider their expansion plans. This will be a much-needed step in the right direction,' said an executive at a company, which is a large producer of long steel that is used in infrastructure projects. 'The government has finally come out with the much anticipated safeguard duty of 12% in a host of mild steel products which have seen an unusual spike in imports into India. This is much needed and a well timed move, though the quantum could have been a bit more.,' said Harsh Bansal, MD of BMW Industries. 'The move will help the Indian steel makers ensure they don't move market to cheaper imports. The government will also have to ensure the headline inflation remains within target range. Even though this is a temporary measure, will bring relief to the steel industry,' said Bansal. India's steel production capacity is at 140 mt per annum and is planned to grow to a total crude steel capacity of 300 million tonnes by 2030-31 as per the National Steel Policy 2017. Apart from safeguard duty, the Directorate General of Trade Remedies (DGTR) under the Ministry of Commerce and Industry is already carrying investigations into dumping of steel. But this process is lengthy and usually takes upto a couple of years. The plan to raise basic customs duty on steel was also discussed by steel and finance ministries but the measure was shot down on the grounds that it would have failed to provide duty protection to the domestic industry against FTA countries that accounts for around 75% of Indian steel imports. First Published: 21 Apr 2025, 09:41 PM IST
