Andhra Pradesh nods investments worth Rs 239 billion
ECONOMY & POLICY

Andhra Pradesh nods investments worth Rs 239 billion

Andhra Pradesh State Investment Promotion Board (SIPB), headed by Chief Minister YS Jagan Mohan Reddy, gave its nod for investments worth a total of Rs 239 billion in the state.

The board gave approval for JSW Steel's proposal to set up a steel plant in Kadapa at a cost of Rs 88 billion, and for pumped hydro storage projects to be set up by Adani Green Energy and Shirdi Sai Electricals, an official release said.

The officials informed the Chief Minister that JSW Steel will invest Rs 88 billion in two phases for setting up the steel plant in Sunnapurallapalli village in Kadapa district.

In the first phase, JSW Steel will invest Rs 33 billion in the proposed plant and one million tonnes of steel per annum will be produced in the first year. Later, the plant will be upgraded to two million tonne per year in the second phase and will eventually reach three million tonne capacity per annum, it said.

Besides, the board approved 1,600 MW pumped hydro storage power project by Adani Green Energy which will invest Rs 63.30 billion providing direct employment to over 4,000 people. The company will set up a 1,000 MW plant in Pedakota of Alluri Sitarama Raju district, and a 600 MW plant at Raiwada in Anakapalli and Vizianagaram districts.

The project is proposed to commence work in December 2024 and is set to be commissioned within four years. Around 4,196 million units of electricity per year will be produced, according to the release.

The SIPB has also cleared Rs 88.55 billion hydro storage projects by Shirdi Sai Electricals Limited which will set up two units at Yerravaram and Somasila to produce combined 2,100 MW power.

The company will set up a 1,200 MW project at Yerravaram and a second project of 900 MW at Somasila. The target is to commence the work in July 2023 and complete it in phases by December 2028.

Also Read
Nagpur development body's layouts to get provisional nod
Master plan of three more cities up for approval in UP

Andhra Pradesh State Investment Promotion Board (SIPB), headed by Chief Minister YS Jagan Mohan Reddy, gave its nod for investments worth a total of Rs 239 billion in the state. The board gave approval for JSW Steel's proposal to set up a steel plant in Kadapa at a cost of Rs 88 billion, and for pumped hydro storage projects to be set up by Adani Green Energy and Shirdi Sai Electricals, an official release said. The officials informed the Chief Minister that JSW Steel will invest Rs 88 billion in two phases for setting up the steel plant in Sunnapurallapalli village in Kadapa district. In the first phase, JSW Steel will invest Rs 33 billion in the proposed plant and one million tonnes of steel per annum will be produced in the first year. Later, the plant will be upgraded to two million tonne per year in the second phase and will eventually reach three million tonne capacity per annum, it said. Besides, the board approved 1,600 MW pumped hydro storage power project by Adani Green Energy which will invest Rs 63.30 billion providing direct employment to over 4,000 people. The company will set up a 1,000 MW plant in Pedakota of Alluri Sitarama Raju district, and a 600 MW plant at Raiwada in Anakapalli and Vizianagaram districts. The project is proposed to commence work in December 2024 and is set to be commissioned within four years. Around 4,196 million units of electricity per year will be produced, according to the release. The SIPB has also cleared Rs 88.55 billion hydro storage projects by Shirdi Sai Electricals Limited which will set up two units at Yerravaram and Somasila to produce combined 2,100 MW power. The company will set up a 1,200 MW project at Yerravaram and a second project of 900 MW at Somasila. The target is to commence the work in July 2023 and complete it in phases by December 2028. Also Read Nagpur development body's layouts to get provisional nod Master plan of three more cities up for approval in UP

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group’s Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence’s long-term commitment to the Indian market and its support for the Indian Government’s Make in India initiative. The partnership’s current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the “Vulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association’s industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States’ share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?