Jindal Steel to launch 2.25 mt steel plant in Andhra Pradesh

Jindal steel, one of India''s steel majors, will set up a 2.25 million-tonne capacity integrated steel plant in Sri Potti Sriramulu (SPS) Nellore district of Andhra Pradesh. The State Investment Promotion Board (SIPB), which met here under Chief Minister YS Jagan Mohan Reddy's chairmanship on Tuesday, cleared Jindal Steel Andhra Ltd's proposal to set up the integrated steel plant with an investment of Rs 7,500 crore. Reddy told the media that the SIPB agreed to allot 860 acres of land at Thamminapatnam in SPS Nellore district for the Jindal plant. A furniture maker Nilkamal Ltd proposal for setting up a major manufacturing industry at Kopparthi in Kadapa district was also cleared by SIPB with an investment of Rs 486 crore. Telangana-based Pitti Rail and Engineering Components Ltd has also come forward to set up its plant to manufacture components for electrical and locomotive industries at Kopparthi with an investment of Rs 401 crore. Greentech Industries Ltd, an automobile products manufacturer, will expand its Naidupeta facility in the SPS Nellore district by investing Rs 627 crore, said Reddy. In Amaravati, the SIPB approved another proposal for developing a retail business park for textiles and garments on a five-acre site at Tadepalli with an investment of Rs 194.16 crore. Image Source Also read: Andhra Pradesh clears investment proposals worth Rs 16k cr Also read: India’s fastest growing steel companies in 2020: CW Survey