Andhra Pradesh govt ties up with Essar to develop steel plant in Kadapa

06 May 2021 CW Team

The Andhra Pradesh (AP) Government has entered a partnership with Essar Steel for establishing a steel plant in the Kadapa district, with 3 million tonne per annum (mtpa) capacity.

On February 23, the state Cabinet withdrew its previous decision, electing Liberty Steel India as the JV associate to construct the YSR Steel Plant.

According to Information Minister Perni Venkataramaiah, the State Cabinet considered the proposal and accepted SBICAP's recommendation to pick Essar Steel as the JV partner.

The outlined capital expenditure of the project is Rs 11,606 crore. The government set up the YSR Steel Corporation for the progress and operation of a new steel plant in the Kadapa district and invited bids last November from prominent firms for recruiting as a joint venture partner.

The state government previously signed an agreement record with National Mineral Development Corporation (NMDC) for providing 4.5 million tonnes (mt) of iron ore required each year for the steel plant.

The government claims the plant would contribute to employment directly or indirectly to around 25,000 people.

The state merged 3,148.68 acres of area spread across two villages for the steel plant, and YSR Steel Corporation will take over the land for Rs 1,65,000 for an acre.

The Chief Minister of AP, YS Jagan Mohan Reddy, on December 23, 2019, set up the foundation of the steel plant in the Kadapa district's Jammalamadugu Mandal.

Image Source

Also read: MS Agarwal Foundries to set up new steel plant in Andhra

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..