Jindal Group To Create 2,500 Jobs; Plans To Set Up Steel Plant In Nellore, AP
Jindal, India’s steel major, plans to set up a 2.25 million-tonne capacity integrated steel plant in SPS Nellore district of Andhra Pradesh, announced by the State Government.
The State Investment Promotion Board (SPIB), which met under chief minister YS Jagan Mohan Reddy's chairmanship on Tuesday evening, approved Jindal Steel Andhra Limited's proposal to set up the integrated steel plant with an investment of Rs 7,500 crore.
The SIPB agreed to allot 860 acres of land at Tamminapatnam in SPS Nellore district for the Jindal plant, a statement from CMO said. The proposed plant would provide employment for 2,500 people over the next four years.
The board also approved an extension of the deadline to June 2022 for setting up St. Gobain industry in Visakhapatnam district. The company had requested an extension due to Covid conditions and came forward to invest Rs 2,001 crore in three phases, the statement added.
The SIPB also cleared furniture maker Nilkamal's proposal to set up a major manufacturing industry at Kopparthi in Kadapa district with an investment of Rs 486 crore.
Telangana-based Pitti Rail and Engineering Components Limited has also come forward to set up its plant at Kopparthi to manufacture components for the electrical and locomotive industries.
The CMO said Pitti would invest Rs 401 crore in the proposed venture and create 2,000 jobs.
The board also approved the expansion of Greentech Industries in the Naidupet area of Nellore district. The company has already invested Rs 750 crore and created 2,700 jobs.
"It will invest another Rs 627 crore for the expansion and create an additional 2,200 direct jobs," the statement added.
The SIPB approved another proposal for developing a retail business park for textiles and garments on a five-acre site at Tadepalli in the state capital region, Amaravati, by investing Rs 194.16 crore.
The retail parks will be housing around 900 retail units by creating direct employment for nearly 5,000 people, which is indeed a hub for national and international business.
It is estimated that about 70 per cent of the sales made in the state come from here, where each store is expected to generate around Rs 11 crore in business annually.
(PTI)
