CM YS Jagan reviews on Kadapa steel plant, allocates Rs. 500 crore under equity

Chief Minister YS Jagan Mohan Reddy conducted a high-level review on the Kadapa Steel Plant on Monday. He ordered to allocate Rs 500 crore under equity for the construction of the steel plant. Industry Minister Mekapati Gautam Reddy and Industry's Special Chief Secretary Karikala Valavan were among those who attended the review meeting. The Chief Minister has briefed officials of the talks with companies interested in partnering with Andhra Pradesh Hybrid Steels Limited, which was set up by the government for the Kadapa Steel Plant. The Chief Minister said the company has had discussions with several companies including Hyundai, Tata Steels and Essar Steel.

CM Jagan discussed the proposals made by the companies. Officials were asked to hold talks with the companies that made the proposals. While the officials have asserted Chief Minister YS Jagan Mohan Reddy that they are planning to enter into a contract with the selected partner within two months. Also they said that it was decided that the township and adjoining infrastructure would be set up in two years. "Soil testing and geotechnical survey will be completed by the end of this month, officials said," officials said.

Officials explained that all necessary steps will be taken to complete the construction of roads, compound wall, power supply for the construction of the factory, as well as water for the factory maintenance.