JSW Steel to set up Rs 8,800 crore steel plant in Andhra Pradesh

16 Feb 2023 , 09:42 AM

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy laid the foundation for JSW Group’s proposed steel plant at Sunnapurallapalle village in YSR Kadapa district on Wednesday.

JSW Steel will invest Rs3,300 crore in the proposed plant in the first phase, with the first year producing one million tonnes of steel. In the second phase, the facility will be upgraded to a capacity of two million tonnes per year, eventually reaching three million tonnes.

The total investment for all three phases would be Rs8800 crore, said the AP CM.

The CM stated that all necessary infrastructure, such as roads, power, and water supply, will be provided to the plant at a cost of Rs700 crore.

Jagan laid the foundation stone and remarked that the establishment of the steel plant would lead to the development of an entire ecosystem, complete with numerous ancillary units. As this ecosystem takes shape, the surrounding area will be transformed into Steel City.

The laying of the foundation, according to Sajjan Jindal, chairman, and Managing Director of JSW Group, is just the beginning of what will eventually become a large steel plant.

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