AMARAVATI: The state government has allotted 860 acres for Jindal steel plant in Nellore district. The plant is expected to bring in Rs 7,500 crore investment to create direct employment for 2,500 and indirect employment to 15,000 people. The government has also granted a special economic package for three new industries coming up in Kadapa and Chittoor districts.
Jindal Steel & Power Limited (JSPL), a part of OP Jindal Group, which wanted to set up 2.25 MTPA Integrated Steel Plant for manufacturing of TMT bars and wire rods with an investment of Rs 7,500 crore (excluding land cost) in next four years, requested the state government for 1000 to 3,000 acres at Thamminapatnam, Momidi villages in Nellore district.
The Jindal group has dominant presence in steel, power, mining and infrastructure sectors with a 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.
Special chief secretary (industries) Karikal Valaven said that the detailed project report (DPR) submitted by the Jindal Steel Andhra Limited (JSAL) was evaluated by the consultants of APIIC and recommended for grant of about 860 acres for the proposed integrated steel plant at Thamminapatnam and Momidi.
The plant is expected to bring in Rs 7,500 crore investment to create direct employment for 2,500 and indirect employment to 15,000 people
PRECL to generate 2,000 jobs
After detailed discussions, the State Investment Promotion Board (SIPB) recently decided to allot 860 acres of land to JSAL as per the rates fixed by the APIIC. Keeping in view the SIPB green signal, the state government issued an order granting the land to the Jindal Steel Plant.
Similarly, the state government granted a special economic package for Pitti Rail and Engineering Components Limited (PRECL) which is setting up a customized engineering products manufacturing facility at YSR Jagananna Mega Industrial Hub in Kopparthy, YSR Kadapa district with an investment of Rs.401 crore. This plant is expected to create direct employment to 2,000 people.
As part of industrial promotion policy, the state government has decided to extend the special package to the industry. Accordingly, APIIC has been directed to allot 117.85 acres land to the unit in YSR Jagananna Mega Industrial Hub, Kopparthy, YSR district at a concessional rate of Rs.10 lakh per acre, against the APIIC land cost of Rs.25 lakh per acre.
It would also get 100 % reimbursement of stamp duty, 100% net SGST reimbursement for 8 years limited to FCI, whichever is earlier. The unit would also get an investment subsidy of 20% of fixed capital investment limited to Rs.10 crore. Similar packages have been granted to Nilkamal Limited, a greenfield unit to manufacture furniture.
This factory is coming up in Kopparthy.Ammayapper Textiles Private Limited, a greenfield garments manufacturing unit along with value added embroidery units at Elakatur village in Chittoor district.
