India’s steel major, Jindal to set up a 2.25 million-tonne capacity integrated steel plant in SPS Nellore district of Andhra Pradesh that will create 2,500 jobs.
According to the press release, Chief Minister’s Office said the proposed plant would create 2,500 direct jobs over the next four years.
State Investment Promotion Board (SIPB), which met here under Chief Minister YS Jagan Mohan Reddy’s chairmanship on Tuesday evening, cleared 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, the release added.
The SIPB also cleared furniture maker Nilkamal’s proposal for setting up a major manufacturing industry at Kopparthi in Kadapa district with an investment of Rs 486 crore.
“This will be Nilkamal’s largest plant in the country, where furniture and other home appliances will be manufactured. It will create 2,030 jobs,” the CMO release said.
Telangana-based Pitti Rail and Engineering Components Limited has also come forward to set up its plant at Kopparthi to manufacture components for electrical and locomotive industries.
The CMO said Pitti would invest Rs 401 crore in the proposed venture and create 2,000 jobs.
Automobile products manufacturer Greentech Industries Limited will expand its Naidupeta facility in SPS Nellore district by investing Rs 627 crore, according to the CMO.
Greentech has already invested Rs 750 crore in the Naidupeta plant and created 2,700 jobs.
Through the expansion, another 2,200 jobs would be created, the release 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.
The CMO release said about 900 retail units would come up in the retail business park, on which Rs 194.16 crore would be invested.
“This park will be a hub for national and international trade and each store in the park could transact an annual business of Rs 11 crore. The park will create 5,000 direct and 20,000 indirect jobs,” the release said.