Naidu Secures Investments, Steel Plant Soon in AP

Andhra Pradesh Chief Minister N. Chandrababu Naidu used the third day of the World Economic Forum (WEF) in Davos to attract investments to the state in sectors such as clean energy, steel, fintech, and tourism.

During the event, Naidu held several meetings with global business leaders and investors. He said his government is speeding up approvals for new projects, tracking proposals in real time, and promoting Andhra Pradesh as a business-friendly state.

A key highlight of his visit was the proposed steel plant in Anakapalli district. Naidu announced that the foundation stone for the project would be laid soon, with an initial investment of around ₹60,000 crore.

On Wednesday, 21 January, the Chief Minister met ArcelorMittal Executive Chairman Lakshmi Mittal at the Andhra Pradesh Lounge in Davos to review the progress of the steel plant project. The plant will be developed by ArcelorMittal Nippon Steel.

Naidu said the foundation stone ceremony is expected to take place after February 15. He added that the project will create jobs, boost industrial growth, and strengthen the state’s economy.