The integrated steel plant with an investment of Rs 7,500 crore, is expected to employ 2,500 people directly and 15,000 people indirectly over a period of four years.

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news Investments Friday, July 16, 2021 - 09:54

The Andhra Pradesh state investment promotion board (SIPB) on Thursday allotted 860 acres of land to Jindal Steel Andhra Limited in Nellore district to set up a 2.25 MT per annum steel plant. "After detailed discussions, the Board had decide to allot 860 acres of land to Jindal Steel Andhra Limited at Thamminapatnam, Momidi Village, Chillakur mandal, SPSR Nellore district as per the rates fixed by the APIIC," said special chief secretary R Karikal Valaven. The integrated steel plant with an investment of Rs 7,500 crore will manufacture TMT bars and wire rods, including employing 2,500 people directly and 15,000 people indirectly over a period of four years. The company with considerable expertise in steel, power, mining and infrastructure sectors and with total annual steel production of 11.6 MT requested for 1,000 to 3,000 acres of land but got 860 acres.

"The vice chairman and managing director, APIIC, Mangalagiri shall take necessary action accordingly and intimate the status of the progress of work done by the unit from time to time to the government," added Valaven. 

Meanwhile, Rajya Sabha member V Vijayasai Reddy on Thursday reiterated that the Andhra Pradesh government opposed the privatisation of the Visakhapatnam Steel Plant (VSP), and said the party MPs will vehemently take up the issue during the upcoming Parliament Session. "We will join forces with labour unions to save VSP and intensify our struggle. We will take on board leaders from other parties as well and stall the Parliament sessions," said Reddy.

On Thursday, Chief Minister YS Jagan Mohan Reddy held a meeting with the ruling Yuvajana Sramika Rythu Congress Party (YSRCP) Parliamentarians and deliberated on various issues. Following the completion of more than 150 days of protests for saving the steel plant, VSP labour union leaders are contemplating to take their protests to Delhi. Similarly, he said the ruling party MPs will take up the water dispute issue between the Telugu states in the forthcoming Parliament sessions for protecting the interests of Andhra Pradesh.

READ: A guide to Lambasingi, a beautiful hill station and weekend getaway in Andhra

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