The Andhra Pradesh government on Thursday, July 15, 2021, issued an order allotting 860 acres of land to Jindal Steel & Power Limited for setting up a 2.25- million tonne per annum integrated steel plant at an investment of Rs 7,500 crore.
Jindal Steel & Power Limited proposes to set up the plant at Thamminapatnam in SPSR Nellore district for the manufacturing of TMT bars and wire rods. It expects to provide employment to 2,500 directly and 15,000 people indirectly over a period of four years.
The government, after careful examination of the matter, hereby accord permission to Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for allotment of land to an extent of 860 acres at Thamminapatnam and Momidi Village of Chilakur Mandal of SPSR Nellore District to Jindal Steel Andhra Limited, as per the rates fixed by APIIC for establishing an integrated steel plant with a condition that R&R charges, if any, shall be borne by Jindal Steel Andhra Limited as agreed by them, the GO said.
The company has a dominant presence in steel, power, mining, and infrastructure sectors with total steel production of 11.6 MTPA and having expertise in running integrated steel plants in Odisha, Chhattisgarh, and Jharkhand. However, JSPL has subsequently changed the name of the company to Jindal Steel Andhra Limited, a joint venture of the JSPL and its sister concern Nalwa Steel and Power Ltd.
As per the Land allotment Policy, the proposal was approved by the Secretaries Committee which was later approved by the State Investment Promotion Board (SIPB) chaired by State Chief Minister YS Jagan Mohan Reddy on June 29, 2021, for allotment of land to JSPL, as per the rate fixed by the Price Fixation Committee of APIIC. However, the developer is expected to bear the costs of relief and rehabilitation.
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