JSW group plans Rs 4,500 crore investment in Andhra Pradesh

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Published: January 24, 2019 12:26:33 AM

With this MoU, Jindal Group proposes to establish a jetty at Ramayapatnam in Prakasam district as part of the group’s plans to expand their logistics footprint in South Asia, a statement from APEDB said.

JSW group, JSW group investment, JSW group investment in andhra pradeshJSW group plans Rs 4,500-crore investment in AP

JSW Group signed a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) at the World Economic Forum, Davos. The company has proposed an investment of Rs 4,500 crore for building a jetty at Ramayapatnam Port and also set up an integrated steel complex surrounding coastal areas of Prakasam district in Andhra Pradesh.

With this MoU, Jindal Group proposes to establish a jetty at Ramayapatnam in Prakasam district as part of the group’s plans to expand their logistics footprint in South Asia, a statement from APEDB said.

JSW Group will invest `1000 crore to establish a jetty at Ramayapatnam Port, further, the group plans to build a slurry pipeline with an investment of `3,500 crore for the group’s plant in Bellary district. This slurry pipeline will build synergies and linkages to Prakasam district.

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Nara Lokesh, minister for information technology, invited Jindal Group to establish an integrated steel complex surrounding the coastal areas in Prakasam district to take advantage of logistics and supporting infrastructure in Andhra Pradesh.

He emphasised the state’s EV policy and invited Jindal Group to invest in electric mobility in the state.

The Andhra Pradesh government has formed a special purpose vehicle, the AP Maritime Infrastructure Development Corporation, to develop the Ramayapatnam port at a cost of `4,240 crore (phase-1) with eight berths. The port, proposed to be developed on a 3,092-acre site, will have a capacity of 40 million tonne per annum.
Chief minister N Chandrababu Naidu unveiled a pylon marking during the launch of the Ramayapatnam port on January 10, 2019.

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