[Ferro-Alloys.com] Swiss commodity trading group IMR Metallurgical Resources has proposed to set up a major steel plant in YSR Kadapa district in Andhra Pradesh by investing more than INR 12,000 crore. This was disclosed by the representatives of IMR Metallurgical who held discussions with chief minister YS Jagan Mohan Reddy. The IMR representatives said that they have entered into a deal with NMDC for supply of iron ore to the proposed steel unit in YSR Kadapa district. 

 

The chief minister said that there would be scope for improving industrialisation in YSR Kadapa district once the proposed steel plant comes up and added that the government was ready to provide all the basic infrastructure facilities. The chief minister said Krishnapatnam port, railway connectivity and highways were readily available for transportation purposes. Moreover, it would provide better employment opportunities to the local people. 

 

Chief Secretary Neelam Sawhney, Industries Special Chief Secretary Rajat Bhargav, IMR-AG chairman Hans-Rudolf Wild, Director Anirudh Misra, Group CFO and Business Development Carl Dilner, project president Arindam De, Finance Director Sanjay Sinha, and AP High Grade Steels Limited Managing Director P Madhusudhan were among those present. (Steelguru)