Jindal’s chairman Mr. Naveen Jindal shared that the company is preparing to set up a 3 million tonnes steel plant in Andhra Pradesh, with an investment of over INR 10,000 crore. The group will also be signing an MoU with Andhra Government to invest in renewable energy and increase their existing cement plant’s capacity.
Chairman of Indian steel company, Jindal Steel & Power, Mr. Naveen Jindal recently shared the company’s plan to invest INR 10,000 crore for setting up a steel plant in Andhra Pradesh. The plant will have a capacity of 3 million tonnes per annum and will employ over 10,000 people, through direct and indirect employment.
Mr. Naveen Jindal, while speaking at the Global Investors Summit 2023, shared the company’s plans for the new plant. “Further to increase our investments in the state (AP), we are working on setting up a three mn tonne steel plant near Krishnapatnam by investing more than Rs 10,000 crore. And more than 10,000 people are going to be getting employment here directly and indirectly,” he said.
Jindal shared that the group will sign a MoU with Andhra Pradesh government to invest in renewable energy in all solar, wind and hydro fields, as well as increase their existing cement plant’s capacity.The group will also be investing in a port and building a slurry pipeline and a MSME park in the state.