Andhra allots 860 acres to Jindal Steel for Rs 7,500 cr plant

The Andhra Pradesh state investment promotion board (SIPB) on Thursday allotted 860 acres of land to Jindal Steel Andhra Limited in Nellore district to set up a 2.25 MT per annum steel plant.
"After detailed discussions, the Board had decide to allot 860 acres of land to Jindal Steel Andhra Limited at Thamminapatnam, Momidi Village, Chillakur mandal, SPSR Nellore district as per the rates fixed by the APIIC," said special chief secretary R. Karikal Valaven.

The integrated steel plant with an investment of Rs 7,500 crore will manufacture TMT bars and wire rods, including employing 2,500 people directly and 15,000 people indirectly over a period of four years.

The company with considerable expertise in steel, power, mining and infrastructure sectors and with total annual steel production of 11.6 MT requested for 1,000 to 3,000 acres of land but got 860 acres.

"The vice chairman and managing director, APIIC, Mangalagiri shall take necessary action accordingly and intimate the status of the progress of work done by the unit from time to time to the government," added Valaven.-IANS