Andhra Pradesh wants Posco to set up steel plant in Krishnapatnam

[Ryzen_renoir]

Andhra Pradesh government has requested the South Korean steel giant to confirm its investment plans on setting up integrated steel plant close to Krishnapatnam port in Nellore district.

The government had offered to extend its full support alongside handing over the land required for setting up the plant.
In a letter to the Posco chairman and managing director (India) Sung Lae Chun, special chief secretary (industries) Karikal Valaven recalled that the former was satisfied with his interaction with the officials of state government and port during his visit to the port area on February 10.
A delegation from Posco visited port region in December prior to Chun’s visit.

“At this juncture, I wish to remind you that we expressed our keen interest to have Posco set-up its Integrated Steel Plant at Krishnapatnam in Nellore district and we are committed to provide full support to the company,” said Valaven.

He requested Chun to invite a delegation from Posco headquarters to visit the state and finalise the investment plans.

Valaven urged that a delegation from POSCO Headquarters at Seoul, South Korea to confirm the firm’s proposal for setting up an integrated steel plant on the land identified jointly by Posco team and the state government at Krishnapatnam and for further discussion on other required support under the State Industrial Policy.

He said that Krishnapatnam is well poised to be the next industrial growth centre of state considering its proximity to the various urban centres like Chennai, Bangalore and is strategically located on the Chennai–Bangalore Industrial Corridor which is being developed with the support of Centre.

He said that developing an Integrated Steel Plant right beside a world-class port offers multiple logistical advantages considering high volume imports and exports arising out of the steel plant operations.
Valaven said that Krishnapatnam Port is one of the largest automated ports in South Asia and with a deep draft capable of handling capsize and panamax vessels.

“The incentives given in Industrial Policy of AP 2020-23 are available and any specific requests in line with the volume of investment and employment opportunities and subsidiary industrial growth that would be generated, state government would be willing to consider further support in the form of fiscal and non-fiscal incentives. The definitive terms can be discussed when the delegation visits AP,” special chief secretary said.

[Somedude]

As usual janalni pichci peons cheyyadaniki edho peekuthunnam ane build up ivvadam.

[BeerBob123]

Thank you Jagan anna