Companies

Jindal Steel Andhra to invest ₹7,500 cr for steel plant in AP

V Rishi Kumar Hyderabad | Updated on July 01, 2021

SIPB nod for projects of St. Gobain, Greentech among others

The State Investment Promotion Board (SIPB) of Andhra Pradesh has recently approved several investment proposals including a ₹7,500 crore steel plant proposal by Jindal Steel Andhra Limited.

The SIPB meet, chaired by Chief Minister YS Jagan Mohan Reddy, earlier this week also directed the authorities to ensure 75 per cent employment to the local candidates in the projects being set up in the State.

The SIPB approved allotment of 860 acres to Jindal Steel Andhra Limited at Thamminapatnam in Nellore District to set up an integrated steel plant with an annual production capacity of 2.25 million metric tonnes at a total investment of ₹7,500 crore, with potential of job creation for 2,500 people in four years.

The board also approved extension of the deadline to June, 2022 for setting up of St. Gobain project in Visakhapatnam district, following a request by the company for an extension due to Covid conditions.

It had proposed a total investment of ₹2,001 crore in three phases.

Pitti Rail Engineering Components Ltd was also accorded approval for its project at Kopparthi near Kadapa for manufacturing of electrical, locomotive, and industrial infrastructure at an investment of ₹401 crore by creating direct employment for 2,000 people.

Other approvals included Neelkamal Limited project at Kopparthi planned with an investment of ₹486 crore for a manufacturing facility for furniture and other household items and the expansion project of Greentech Industries in Naidupet area of Nellore district, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen and others. GreenTech, which has already invested ₹750 crore, plans to invest ₹627 crore.

The SIPB also approved a project of Ammayapper Textiles in Chittoor District and the construction of a mega retail park for Textiles and Garments in five acres at Tadepalli, Guntur District by investing ₹194.16 crore. The retail park will be designed to house around 900 retail units.

Published on July 01, 2021

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