The YS Jagan mohan Reddy-led government has approved the project worth nearly Rs 24,000 crore including a steel plant, green energy and hydro energy projects.
The project will not only improve the infrastructure of the state but will also create thousands of direct and indirect jobs in the state.
As per the reports, the Andhra Pradesh State Investment and Promotion Board (SIPB) approved projects to the tune of Rs 23,985 crore. These include a steel plant in Kadapa for an investment of Rs 8800 crore, two Green Energy Projects in Vizianagaram and ASR district for Rs 6330 crore, and two hydro storage projects in Erravaram and Somasila for Rs 8,855 crore. The projects were approved in a review meeting chaired by CM Reddy in Tadapalli.
Steel plant in Kadapa
The proposal from JSW Steel Limited to set up a steel plant unit in YSR Kadapa district with an investment of over Rs 8800 cr in two phases has been approved. The plant’s target is to generate a capacity of over three million
tonnes per year (mtpa).
Andhra CM said that the project will generate thousands of direct and indirect jobs. ‘The entire region of Rayalaseema will benefit once the steel plant and many allied industries start their operations,’ he was quoted as saying.
Green energy projects
Two Adani Green Energy Projects have been approved to be set up in Vizianagaram (600 MW) and ASR district (1000 MW). The total investment for these projects will be Rs 6330 crore. A pumped hydro storage power project generating 1600 MW will also be set up. The projects will generate over 4,196 million units of electricity every year. The projects will generate indirect and direct jobs for 4000 persons in Andhra Pradesh.
Hydro storage projects
Two hydro storage projects by Shirdi Sai Electricals Limited in Erravaram (1200 MW) and Somasila (900 MW) have been approved for an investment of Rs 8,855 crore. The projects generating 2100 MW combined have a start date target of July 2023. It will be completed in phases over the next five years with an end date in December 2028. The projects will create 2100 direct jobs.