China’s Ansteel to Set Up Rs. 3000 Crore Steel Plant in Andhra Pradesh
The Chief Minister of Andhra Pradesh, Mr. Nara Chandrababu Naidu, is on his second visit to China and on the first day; he met the officials from Ansteel; a government-owned steel company. Following this meeting, the company expressed its interest in setting up steel plant in Andhra Pradesh at a cost of Rs 3,000 crore.
Mr. Naidu held a bilateral meeting with Ansteel secretary and president Feng Zhanti and other company officials in Tinajin and invited them to visit the state and select a suitable location for the proposed steel plant, according to a release from the CMO.
“Since India is growing very rapidly, there will be a lot of demand for steel in the country and Ansteel group can explore a partnership with either private or public steel enterprises,” the chief minister told the Chinese team.
As construction of the state’s new capital city Amaravati was underway, there was huge demand for steel in the state as well, he pointed out.
Chandrababu asked the Ansteel team to inspect the site in Kadapa district where previously a steel plant was proposed to be set up. “The location is close to the port and iron ore is abundantly available,” the chief minister said. In addition to this, he met several other major businesses in different sectors like Dairy, Mining, IT, Energy and more. Most of those firms expressed their interest in setting up manufacturing plants in Andhra Pradesh.