Hyderabad, April 4 -- The Andhra Pradesh cabinet chaired by chief minister N Chandrababu Naidu on Thursday approved ArcelorMittal Nippon Steel India Limited's (AMNSL) proposal to establish a steel plant in Anakapalli district with a production capacity of 17.8 million tonnes per annum in two phases, with an investment of around Rs.1.35 lakh crore.

"In the first phase, a steel plant with a production capacity of 7.3 million tonnes per year will be set up with an investment of Rs.55,964 crore, and production is targeted to commence by January 2029. This phase is expected to create 20,000 jobs," state information and public relations minister K Parthasarathy told reporters after the cabinet meeting.

He said that the second phase aims to es...