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On Steel to invest in State
Chinese steel manufacturer On Steel has agreed to set up a steel plant in the State with a total investment of Rs 3,000 crore. The deal has materialised following the discussions Chief Minister N Chandrababu Naidu had with the steel unit chief engineer Juven Gang, who said that the priority was to set up a steel unit in the State.
- Chief Minister Chandrababu Naidu holds discussions with On Steel’s chief engineer Juven Gang
Amaravati: Chinese steel manufacturer On Steel has agreed to set up a steel plant in the State with a total investment of Rs 3,000 crore. The deal has materialised following the discussions Chief Minister N Chandrababu Naidu had with the steel unit chief engineer Juven Gang, who said that the priority was to set up a steel unit in the State.
Naidu said that the demand for steel would be very high to meet the State capital’s requirement. He said the time was ripe for setting up the unit. Extending cooperation in all respects to locate the steel plant in the state, he asked Juven to depute a delegation to Andhra Pradesh.
“There was no dearth of experts in the State,” he said and asking Juven to explore the proposed Brahmani Steels site for establishing the Chinese steel plant. He said the site suggested was close to Krishnapatnam port and the region has plenty of iron ore deposits.
The Chief Minister said his government was extending red carpet welcome to prospective industrialists, while guaranteeing to get all permissions issued within 21 days. Finance Minister Yanamala Ramakrishnudu, advisor on communications Parakala Prabhakar and others took part in the meeting.
