Jindal Steel to invest Rs 7,500 crore in Andhra Pradesh
Several key proposals have been approved at the State Investment Promotion Board (SIPB) meeting chaired by Chief Minister Jaganmohan Reddy. Among other decisions, the board decided to allot 860 acres of land to Jindal Steels to set up a steel plant in Nellore district.
At the meeting, the chief minister directed the authorities to ensure companies provided 75 per cent employment to locals. He also emphasized on environment protection.
The board approved the allotment of land to Jindal Steel Andhra Ltd at hamminapatnam for the setting up of an integrated steel plant. It would have an annual production capacity of 2.25 million metric tonnes. This would be done at a total investment of `7,500 crore. The company would provide employment for 2,500 people in four years.
Also, the board approved extension of the deadline to June 2022 for the setting up of St Gobain Industry in Visakhapatnam district. The company had sought an extension due to the prevailing covid conditions and promised to invest Rs 2,001 crore in the state in three phases.
The board has given its approval to Pitti Rail Engineering Components Ltd at Kopparthi near Kadapa for manufacture of electrical, locomotive and industrial infrastructure-related material at an investment of Rs401 crore. This could create direct employment to 2,000 people, it was stated at the meet.
Similarly, the board gave its nod for Neelkamal Ltd at Kopparthi which is planning to invest Rs 486 crore for manufacture of furniture and other household items, by employing around 2,000 people.
Also, the board approved the expansion of Greentech Industries in Naidupet area of Nellore district, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen etc.
GreenTech, which has invested Rs 750 crore will invest another Rs 627 crore for its expansion and provide an additional 2,200 direct jobs.
The board also gave its approval for Ammayapper Textiles Pvt. Ltd in Chittoor district. It would invest Rs 30 crore and provide 90 per cent jobs to women.
Besides these, the board approved construction of a mega retail park for textiles and garments on five acres at Tadepalli, Guntur district by investing Rs 194.16 crore.
The retail parks will be housing around 900 units and provide direct employment to nearly 5,000 people. This will be a hub for national and international business. It is estimated that about 70 per cent of the sales made in the state comes from here. Each store is expected to generate around Rs 11 crore in business annually.
Deputy chief minister (revenue) DK Das, finance minister Rajendranath, Panchayat Raj minister PR Reddy, energy minister Srinivasa Reddy, agriculture minister Kannababu, industries minister Goutham Reddy, municipal administration minister Botsa Satyanarayana, labour minister Gummanuru Jayaram, chief secretary Adityanath Das, industries special chief secretary Karikala Valaven, agriculture special chief secretary Poonam Malakondaiah, revenue special chief secretary Rajat Bhargav, finance principal Secretary SS Rawat, transportation principal secretary Krishna Babu, energy secretary Srikanth, forest and environment secretary Vijaykumar and industries commissioner Subramaniam were among the officials present.