Chinese steel major Ansteel has expressed its interest to set up a steel plant with an investment of Rs.3000 crore in Andhra Pradesh.
Andhra Pradesh Chief Minister N Chandra Babu Naidu, who is on a four-day visit to China, held a bilateral meeting on his first day with the Secretary and President of Ansteel, and officials of other companies in Tianjin. Naidu also invited them for a state visit and asked them to select a suitable location for the proposed steel plant.
“Since India is growing very rapidly, there will be a lot of demand for steel in the country and Ansteel group can explore a partnership with either private or public steel enterprises," said the chief minister.
He indicated that Andhra Pradesh needs more steel due to the ongoing construction of the new capital city Amaravati. The chief minister asked the Ansteel team to inspect the site in the Kadappa district, where Karnataka Minister Gali Janardhan was previously planning to set up a plant.
Naidu emphasised that the site location is very close to the port and iron ore is also abundantly available. He also asked the Chinese steel major to come up with an “implementable action plan", which would allow the land allotment proposal to go forward.