At a time when the opposition Telugu Desam Party has been campaigning extensively stating that there was a flight of industries from Andhra Pradesh after YSR Congress party led by Y S Jagan Mohan Reddy came to power in 2019, a popular industrial group in the country has evinced interest in setting up a steel plant in Nellore district.
According to a media report, Jindal Steels, one of the steel giants in the country, has proposed to set up a steel plant at Tamminapatnam and Momidi villages in Nellore district, with a capacity of 2.25 million tonnes per annum. It plans to produce TMT iron bars and rods.
The proposal is likely to come up before the state investment promotion board in its next meeting, where a decision would be taken.
The industries and finance department authorities are said to be working out the modalities.
According to the report, the steel plant requires 1,000 to 3,000 acres of land, but the Andhra Pradesh industrial and investment corporation (APIIC) made a study and decided that 860 acres were enough for the plant, which would provide direct employment to 2,500 people and indirect employment to another 15,000 people.
In fact, Jindal Steel and Power Limited has already acquired a 1900-MW power plant proposed to be set up by Kineta Power in Nellore in 2019 itself.
The project has about 1,200 acres of land, of which nearly 840 acres have been acquired through Andhra Pradesh Industrial Infrastructure Corporation Ltd.
May be, this land will be transferred to Jindal Steels for the steel plant. It also has the locational advantage of having railway station, national highway and Krishnapattnam port in the nearby areas.
Tail piece: Kineta Power was originally promoted by Kineta Minerals and Metals Ltd, owned by YSR Congress MP V BalaShowry. It is primarily engaged in export of iron ore and suppliers of burnt lime, limestone and dolomite etc.