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\u2019s 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\u2019s plant in Bellary district. This slurry pipeline will build synergies and linkages to Prakasam district. READ ALSO |\u00a0Mukesh Ambani\u2019s Reliance Retail only Indian firm on Deloitte\u2019s top 250 retailers\u2019 list; check first 3 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\u2019s 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.