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Jindal gets 860 acres
To set up 2.25 MTPA steel plant in Nellore with an investment of `7,500 cr
Nellore: The Andhra Pradesh government on Thursday issued orders allotting 860 acres of land to Jindal Steel & Power Limited, part of OP Jindal Group, for setting up a 2.25- million tonne per annum integrated steel plant at an investment of Rs 7,500 crore. The proposed plant at Thamminapatnam in SPSR Nellore district is expected to create employment to 2,500 people directly and 15,000 indirectly.
The Industries and Commerce Department through the GO 54 had also cancelled the lands allocated to Kinneta Power Private Limited at Thamminapatnam and Momidi villages of Chillakur Mandal.
The Jindal Group has presence in steel, power, mining, and infrastructure sectors with a total steel production of 11.6 MTPA and has expertise in running integrated steel plants in Odisha, Chhattisgarh, and Jharkhand states.
The company requested the government for allotment of 1,000-3,000 acres of land at Thamminapatnam and Momidi Villages. The proposal was placed before the Secretaries Committee on November 23, 2020, as per the Land Allotment Policy for taking a view on the allotment of land afresh to JSPL, and the committee recommended to place the proposal of Jindal Steel & Power Limited (JSPL) before the State Investment Promotion Committee (SIPC) and State Investment Promotion Board (SIPB) for the allotment of 840 acres to JSPL, as per the rate fixed by the Price Fixation Committee of the APIIC.
The JSPL, has changed the name to Jindal Steel Andhra Limited, a joint venture of the steel giant Jindal Steel and Power Limited (JSPL) and its sister concern Nalwa Steel and Power Ltd and submitted a revised DPR with revised layout for the proposed steel plant.
The DPR has been evaluated by the in-house consultants of the APIIC and recommended an extent of 860 acres to the proposed plant at Thamminapatnam and Momidi Villages, the GO said.
