The state government of Andhra Pradesh has approved the allotment of 860 acres of land to JSPL for an integrated steel plant at Thamminapatnam and Momidi villages of Nellore district. The integrated plant with an annual production capacity of 2.25mn mt would manufacture TMT bars and wire rods.
JSPL plans to invest Rs75bn ($1bn) for setting up the plant. The name of the project has been changed to Jindal Steel Andhra, which is a joint venture of JSPL and its sister concern Nalwa Steel and Power.
The company has also requested the government to allot 1,000-3,000 acres of land at Thamminapatnam and Momidi villages for further expansion.
($1 = Rs74.59)