New Delhi: Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday said that the availability of iron ore reserves in the state will attract nearly Rs 2 lakh crore worth investments and create more than 1.5 lakh jobs.
Reviewing the Mines Department, the chief minister noted that the utilisation of iron ore will rise by fourfold in the future.
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"The availability of iron ore reserves is a wonderful opportunity to turn the state into a steel hub. This sector will attract investments worth Rs 1.9 lakh crore and create 1.52 lakh jobs," Naidu said in an official release.
The presence of 1,938 million tonne of iron ore reserves will enable the possibility of earning higher income, he said.
Naidu said ArcelorMittal Nippon Steel India is setting up a steel plant with a capacity of 17.8 million tonne, while JSW Steel is also planning a major plant in the Rayalaseema region. By 2035, the combined capacity of these plants is expected to exceed 20 million tonne annually, he added.
The CM instructed officials to prepare a roadmap to enhance steel production capacity in the state.
Out of 17 identified iron ore blocks, he directed that the remaining unallocated blocks be assigned to suitable companies to accelerate development.
Naidu set steel production targets of 30 million tonne per annum by 2030 and 113 million tonne per annum by 2035.
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Meanwhile, officials informed the chief minister that the Mines department achieved 108 per cent revenue target in 2025–26, generating Rs 3,416 crore, a rise of 32 percent over the previous fiscal.
This "growth surpasses" that of major mineral-rich states such as Odisha, Karnataka, Chhattisgarh, Rajasthan and Madhya Pradesh, the release said.
For the financial year 2026–27, a revenue target of Rs 4,650 crore has been set, aiming for a 36 per cent increase over the previous year, it added.
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