Stone laid for Rs 165-cr ferro alloys plant in Punganur

Punganur (Chittoor dist): Minister for Energy, Environment and Forests Peddireddi Ramachandra Reddy along with Rajampet MP P Mithun Reddy laid foundation stone for Rs 165-crore ferro alloys plant to be set up by Electrosteel Castings Limited in Aradigunta of Punganur constituency on Friday. This industry will provide direct employment to 250 and indirect appointment to another 800. Speaking on the occasion, the Minister said Ductile Iron (DI) pipes have a good demand in the market and they were being used on a large-scale for irrigation projects as well.

The industry will be set up in 56 acres with a total investment of Rs 165 crore. He said that the procedure to set up an industrial corridor has started. Chief Minister Y S Jagan Mohan Reddy was fully aware of the situation in Punganur and has been providing water from his constituency to Punganur. To provide uninterrupted power supply without any hurdles, a 133/33 KV sub-station was also being set up along with several other sub-stations in the surrounding areas. The Minister assured all basic infrastructural facilities for industries and thanked the Electrosteel Castings Limited for setting up their plant in Punganur. He recalled that during the Global Investors Summit in Visakhapatnam, investments to the tune of Rs 13 lakh crore have come, out of which the energy sector got Rs 9 lakh crore.

MP Mithun Reddy said that setting up of industries is not a one-day affair. The company has gone through all aspects and came forward to set up their unit here. Though they have one unit in Srikalahasti, they wanted to set up another unit in Punganur. The Chief Minister assured to sanction an industrial corridor to this area and the District Collector has already inspected 2,000 acres of land for the purpose. Chittoor MP N Reddeppa, ZP Chairman Govindappa Srinivasulu, Collector M Hari Narayanan and others were present.