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Andhra allots 860 acres to Jindal Steel for Rs 7,500 cr plant

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The Andhra Pradesh state investment promotion board (SIPB) on Thursday allotted 860 acres of land to Jindal Steel Andhra Limited in Nellore district to set up a 2.25 MT per annum steel plant.

“After detailed discussions, the Board had decide to allot 860 acres of land to Jindal Steel Andhra Limited at Thamminapatnam, Momidi Village, Chillakur mandal, SPSR Nellore district as per the rates fixed by the APIIC,” said special chief secretary R. Karikal Valaven.

The integrated steel plant with an investment of Rs 7,500 crore will manufacture TMT bars and wire rods, including employing 2,500 people directly and 15,000 people indirectly over a period of four years.

The company with considerable expertise in steel, power, mining and infrastructure sectors and with total annual steel production of 11.6 MT requested for 1,000 to 3,000 acres of land but got 860 acres.

“The vice chairman and managing director, APIIC, Mangalagiri shall take necessary action accordingly and intimate the status of the progress of work done by the unit from time to time to the government,” added Valaven.

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Jindal Steel to set up 2.25 capacity steel plant in Andhra

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The Andhra Pradesh State Investment Promotion Board (SIPM) chaired by Chief Minister Y.S. Jagan Mohan Reddy has allotted 860 acres of land to Jindal Steel Andhra Limited for setting up a steel plant with an investment of Rs 7,500 crore.

Slated to come up at Thamminapatnam in Nellore district, the integrated steel plant with an annual production capacity of 2.25 MT is expected to employ 2,500 people in four years, said an official statement detailing the several decisions of the SIPM.

Likewise, the investment board approved to extend the deadline for global glass manufacturer St Gobain to set up an industry in Visakhapatnam district.

“The company had requested for an extension due to the Covid conditions with a proposal to invest Rs 2,001 crore in three phases,” said the statement.

Similarly, the board approved Pitti Rail Engineering Components Limited to manufacture electrical, locomotive and industrial equipment at an investment of Rs 401 crore, creating employment for 2,000 people.

The board also gave a nod to Neelkamal Limited at Kopparthi where it is keen on investing Rs 486 crore to manufacture furniture, employing 2,000 people.

“The board also approved the expansion of Greentech Industries in Naidupet area of Nellore district, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen and others,” said the statement.

Greentech has already invested Rs 750 crore and will invest another Rs 627 crore to expand and additionally employ 2,200 people.

Similarly, the board gave green signal to Ammayapper Textiles Private Limited in Chittoor district, which has come forward to invest Rs 30 crore, and provide 90 per cent jobs to women.

Likewise, the board also approved the construction of a mega retail park for textiles and garments in 5 acres of land at Tadepalli in Guntur district with an investment of Rs 194 crore.

“The retail park will be housing around 900 retail units, creating direct employment for nearly 5,000 people,” the statement said.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Bobby Jindal drops White House run — ‘Not my Time’

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By Emily Stephenson

(Reuters) – Louisiana Governor Bobby Jindal, polling near the bottom of the crowded 2016 Republican presidential field, suspended his campaign on Tuesday, saying: “This is not my time.”

“We spent a lot of time developing detailed policy papers, and given this crazy, unpredictable election season, clearly there just wasn’t a lot of interest,” Jindal said on Fox News after announcing his exit from the race.

“I think the Republican Party has to lay out the pathway why we are the party for opportunity and growth,” he said. His exit left 14 Republicans in the presidential race.

Jindal, 44, was the first person of Indian-American heritage to run for U.S. president. A Christian who converted from Hinduism as a teenager, his message was aimed at social conservatives and evangelical Christians.

Jindal’s campaign focused especially on Iowa, which votes first in the series of state contests to choose the Republican nominee. Conservative evangelicals often do well there, and several candidates hoped for a strong showing.

But he struggled after entering the race in June to separate himself from the pack seeking the Republican nomination for the November 2016 election. He received 0.8 percent support in a recent Reuters/Ipsos poll.

Jindal spent more money than he raised in the third quarter. Other Republican candidates had already quit after burning through cash too quickly.

He failed to qualify for the prime-time Republican debate on Nov. 10, but during the forum for lower-polling candidates, he went on the attack against his rivals onstage.

On Monday, Jindal’s campaign said he would continue his tour of Iowa’s 99 counties this week.

“But this is not my time,” Jindal said in a statement on Tuesday, “so I am suspending my campaign for President.”

Former Iowa Republican Party Chairman Matt Strawn said Jindal’s withdrawal would buoy U.S. Senator Ted Cruz of Texas, who appeals to the same evangelical voters and on Monday won the backing of an influential Iowa lawmaker.

“It means a good week for Senator Cruz just got better as he attempts to consolidate evangelical and anti-establishment support in Iowa,” Strawn said.

Louisiana voters will go to the polls on Saturday to pick Jindal’s successor as governor.

Jindal said that after leaving office, he would work on a think tank he formed. He did not endorse another Republican presidential candidate on Tuesday, saying he would support the party’s nominee.

For more on the 2016 U.S. presidential race and to learn about the undecided voters who determine elections, visit the Reuters website. (http://www.reuters.com/election2016/the-undecided/).

(Reporting by Emily Stephenson in Washington and Luciana Lopez in New York; Editing by Christian Plumb and Peter Cooney)

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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