EIFL to invest Rs 854 cr for steel manufacturing in AP

Hyderabad, July 25 (UNI) Evergrowing Iron and Finvest Limited (EIFL) Director RP Goel today expressed desire to invest Rs 854 crore to set up integrated steel plant near Nellipaka village of Aswapuram mandal in Khammam district.

Mr Goel said the EIFL would come up with a steel plant through DRI (sponge iron) and induction furnace route and intends to enter into manufacturing industry.

A six-member delegation led by Mr Goel, who met the Chief minister Dr Y S Rajasekhara Reddy here, said the company was planning to come up with a 0.68 million tonne per annum capacity with 130 MW captive power plant by the end of July 2009. The waste heat and gases generated from the processes would be used for generation of power and the water for horticulture crops.

The Chief Minister, who responded to the delegations proposals, said the state government has adopted a proactive approach and would extend all the help for the industry, an official release said here.

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