[Ferro-Alloys.com] JSW Group has begun construction work on the ?8,800-crore steel plant at Sunnapurallapalli village in YSR Kadapa district.
The first of the project is expected to be ready for commercial production in 24-30 months. The State government has allotted 3,500 acres for the project.
Addressing a gathering after the ground-breaking ceremony on Wednesday, JSW group Chairman Sajjan Jindal said the plant would run on green energy and bring prosperity to the entire district.
Citing the example of the group’s experience in Ballari (Karanataka), he said the company started work on a 1.2-million tonnes (mt) capacity plant in 1995. “The capacity there now touched the 13-million tonne mark. It is going to become the biggest steel plant in the world over the next three years. It would have a capacity of 25 mt,” a statement from Andhra Pradesh government, quoting him, said.
‘Model steel plant’
“We are starting off with a similar capacity, as we did in Ballari. I am sure it would grow on a similar growth path. It will become a model steel plant,” he said.
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy, who took part in the ground-breaking ceremony, said the group was taking up the 3-mt capacity project in two phases.
“The company will spend ?3,300 crore in the first phase, which will be completed in 24-30 months. It would spend the remaining ?5,500 crore in the second phase,” he said. “We have acquired the land by spending ?40 crore. We are going to spend about ?700 crore to develop basic infrastructure,” he said. Source: businessline