Jindal Steel and Power will make an investment of Rs 7,500 crore to set up 2.25 million tpa integrated steel plant in Andhra Pradesh. The investment is through the company’s subsidiary, Jindal Steel Andhra.
The Andhra Pradesh government has approved allotment of 860 acre of land parcel at a lower price for the plant which is proposed to be established near Momidi and Tamminapatnam villages of Chillakuru mandal in Nellore district.
The plant will provide direct employment to 2,500 persons.
Chief Minister YS Jagan Mohan Reddy noted the new industries in the state should provide 75 percent of the jobs to locals and strictly comply with the pollution control norms.
The State Investment Promotion Board (SIPB) had discussed five investment proposals including Rs 14,000 crore investments of heavy industries providing employment to about 25,000.
Apart from this, approval was accorded to Pitti Rail Engineering Components for setting up manufacturing components for electrical, locomotive, power and other industrial units at Kopparthi near Kadapa. The company will make an investment of Rs 401 crore and create jobs for 2,000 people.
The nod was also given to Rs 486 crore unit of Neelkamal for furniture and home appliances manufacturing coming up at Kopparthi near Kadapa. The project will create jobs for 2,030 people.
GreenTech Industries was also given nod for expansion and the company provides steel and iron products for Ford, Hyundai, Volkswagen and other companies, and would provide 2,200 jobs in addition to 2,700 employees working there.