Kadapa to emerge as another steel city of AP
IMR group to invest 12K crores
Kadapa district is likely to be emerged as iron hub of Andhrapradesh as one more steel and iron company us going to be established here. Already the AP government is proposed a steel factory here and now another investor met the Chief minister YS Jagan mohan Reddy and expressed interest to invest Rs.12,000 crores and produce 10 Lakh tonnes of iron annually.
IMR Metallurgical Resources A company representatives met Andhra Pradesh Chief minister Jagan mohan Reddy and opined that YSR district has full potential for transforming into a steel city in the coming days. YS Jagan assured full support from the state government for setting up of proposed steel plant.
IMR Representatives spoke to CM inquired the activities of the IMR company, and the delegates told YS Jagan that IMR group has activities in Indonesia, South Africa, Mexico, Colombia, Italy, Ukraine and India related to coal mining, iron ore and gold extraction and power and steel factories.
Speaking with the representatives, AP CM said that the state government has started efforts to set up a steel plant in YSR district. "AP has entered into an agreement with NMDC for the supply of iron ore to the plant", said YS Jagan.
AP CM further added that setting up another steel plant in the district would create a better industrial environment and the government will provide any kind of cooperation such as water, electricity, infrastructure.
YS Jagan explained to them the ease of transportation to the YSR district, as it is well-connected with Krishnapatnam port, the railway line and the national highways. On the other side the opposition TDP is blaming that no investor is interested to put money here because of the corrupt YSR Congress government but in practical many more industrialists are arriving and expressing interest to establish companies here.