New steel plant to come up in Andhra Pradesh

The construction of Kadapa Steel Plant (KSP) in Andhra Pradesh’s Kadapa district, having a production capacity of 3mn mt per annum, will be completed in three years. 
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy said during a review meeting this week that KSP will be developed by AP High Grade Steels (APHGSL) with government equity share of Rs500 crore and will employ approximately 25,000 people during construction and subsequent operations.
The State government has signed a contract with the National Mineral Development Corporation for supply of 5mn mt iron ore for the steel plant every year.
After the Swiss giant IMR Metallurgical Resources-AG proposed to set up a 10mn mt capacity steel plant with an investment of Rs12,000 crore in Kadapa, big names like Hyundai Motors, Tata Steel and Essar Steel came forward to partner with the State government for setting up the steel plant in the same district.
Reddy asked the officials to close the negotiations as soon as possible for a partnership with either of the big players like Hyundai Motors or Tata Steel, according to media reports.