AP Cabinet Clears Rs 1.35 Trillion Steel Project
Steel

AP Cabinet Clears Rs 1.35 Trillion Steel Project

The Andhra Pradesh cabinet, chaired by Chief Minister N. Chandrababu Naidu, has approved a slew of major initiatives to drive industrial and tourism development in the state. Key among them is the green light given to ArcelorMittal Nippon Steel India for setting up a massive Rs 1.35 trillion steel plant in Anakapalli district. The project will be developed in two phases—Phase 1 involving a Rs 559.64 billion investment for a 7.3 MTPA steel plant and a Rs 58.16 billion captive port, both expected to be operational by January 2029 and generate over 21,000 jobs. 

Phase 2 will add a 10.5 MTPA steel plant by 2033, involving a Rs 800 billion investment and an additional captive port of Rs 53.8 billion, together projected to create over 40,000 jobs. 

The cabinet also approved the development of ports and fishing harbours across viable coastal locations and committed to protecting the Visakhapatnam Steel Plant by converting a Rs 24 billion power bill into equity, helping the plant return to profitability. State police will now be deployed at the plant, replacing central security. 

To boost tourism, the cabinet plans to build 50,000 hotel rooms in the next five years and develop temple tourism. In support of the hospitality sector, bar licence fees for three-star and above hotels will be reduced from Rs 660 million to Rs 250 million. 

The cabinet also approved financial guarantees for AP Power Finance Corporation to secure Rs 7.1 billion from HUDCO and ratified Rs 17.35 billion in compensation related to the Polavaram hydroelectric project. Additionally, it cleared the formation of the 'Jala Harathi Corporation' to manage the Polavaram-Banakacherla link project. 

Cultural promotion through the Ugadi Puraskars and support for arts and youth initiatives were also endorsed, signaling the state’s commitment to holistic development. 

(deccanchronicle) 

The Andhra Pradesh cabinet, chaired by Chief Minister N. Chandrababu Naidu, has approved a slew of major initiatives to drive industrial and tourism development in the state. Key among them is the green light given to ArcelorMittal Nippon Steel India for setting up a massive Rs 1.35 trillion steel plant in Anakapalli district. The project will be developed in two phases—Phase 1 involving a Rs 559.64 billion investment for a 7.3 MTPA steel plant and a Rs 58.16 billion captive port, both expected to be operational by January 2029 and generate over 21,000 jobs. Phase 2 will add a 10.5 MTPA steel plant by 2033, involving a Rs 800 billion investment and an additional captive port of Rs 53.8 billion, together projected to create over 40,000 jobs. The cabinet also approved the development of ports and fishing harbours across viable coastal locations and committed to protecting the Visakhapatnam Steel Plant by converting a Rs 24 billion power bill into equity, helping the plant return to profitability. State police will now be deployed at the plant, replacing central security. To boost tourism, the cabinet plans to build 50,000 hotel rooms in the next five years and develop temple tourism. In support of the hospitality sector, bar licence fees for three-star and above hotels will be reduced from Rs 660 million to Rs 250 million. The cabinet also approved financial guarantees for AP Power Finance Corporation to secure Rs 7.1 billion from HUDCO and ratified Rs 17.35 billion in compensation related to the Polavaram hydroelectric project. Additionally, it cleared the formation of the 'Jala Harathi Corporation' to manage the Polavaram-Banakacherla link project. Cultural promotion through the Ugadi Puraskars and support for arts and youth initiatives were also endorsed, signaling the state’s commitment to holistic development. (deccanchronicle) 

Next Story
Infrastructure Transport

Railways approves major upgrade for Telangana traction lines

The Ministry of Railways has approved the upgradation of the electric traction system in two crucial railway sections — Medchal–Mudkhed (225 km) and Mahbubnagar–Dhone (184 km). The projects, costing Rs 1.93 billion and Rs 1.23 billion respectively, will enhance the electric traction capacity from 1X25 KV to 2X25 KV. The work includes modifications to circuit breakers and switching stations, along with the installation of additional conductors. These routes serve as vital links between Northern and Southern India via Hyderabad. Once completed, the upgraded system will reduce voltage dro..

Next Story
Infrastructure Transport

Adani to invest Rs 425 billion more in Maharashtra’s Dighi Port

The Adani Group has committed to invest an additional Rs 425 billion in the Dighi Port project, located along Maharashtra’s coastal Konkan belt, government officials announced on Monday. Adani Ports and Special Economic Zone (APSEZ)-run Dighi Ports signed a memorandum of understanding (MoU) with the Maharashtra government to undertake the expansion of the port and related infrastructure. This new commitment comes as part of a broader investment initiative by the state. Chief Minister Devendra Fadnavis said the agreement is among 15 MoUs worth over Rs 560 billion signed during the opening d..

Next Story
Infrastructure Transport

HUDCO, JNPA sign Rs 50 billion deal for port development

In a strategic move, the Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) for an investment of Rs 50 billion to revamp and develop port infrastructure. The non-binding agreement is intended to strengthen cooperation on both existing and upcoming infrastructure projects, with a focus on development, financing, and refinancing of port facilities at the Jawaharlal Nehru Port. The MoU was formalised with the signatures of Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Shar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?