Comments
Lalitanjali Group, a company specialising in infrastructure engineering and supply chain management, on Wednesday announced that it would be setting up a steel industrial park here at an investment of Rs 650 crore.
Over 100 acres of land would be purchased to set up 15-20 ancillary units guided by a pilot company. The capacity of the industrial park would be approximately 7-8 lakh tonnes, with a captive power of 25 MW.
The park would have an effluent treatment plant, water treatment plant, truck terminal, container terminal, raw material storage facility, and all other facilities. “This offers a huge business opportunity for companies in India, as the landing costs of raw materials from other countries is cheaper by $5 to $6 in Vizag compared to other states.
The city has significant geographical advantages because of the presence of two major ports, better air connectivity, and its strategic location closer to the South Asian Market. For this reason we have already received interest from over 20 companies to establish a base here," said Rahul Rao, the CEO of Lalitanjali group.
He said India was expected to become the second-largest producer of steel, and keeping this in mind, Lalitanjali Group intended to lend a helping hand by producing necessary ancillary products. It would help the major players in enhancing their capacities, at the same time generating employment within the region.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.