YSR to lay foundation stone for 6.5 mn steel plant Jun 10

Hyderabad, June 6 (UNI) The Brahmani Steel Industries will be setting up a 6.3 million tonne steel in the drought-stricken Kadapa District of the Rayalaseema Region of Andhra Pradesh providing direct employment to 16,500 persons and indirect employment to over 10,000.

Informing this to newsmen after a Cabinet meeting, Information and Public Relations Minister Anam Ramanarayana Reddy said the foundation for the project would be laid by Chief Minister Y S Rajasekhara Reddy on June ten.

Mr Ramanarayana Reddy said the Cabinet had approved the proposal sent by the Collector for allottment of 10,670 acre of land at Rs 18,500 per acre to the company.

The Kadapa plant would not displace even a single person.

Besides, the land was totally barren and unfit for cultivation or any other use.

The company had given a commitment that it would start production in 18 months from the laying of foundation stone. While two million tonne would be produced in the first phase, the second phase would churn out 4.3 million tonne.

Besides, there was also scope for several ancillary industries coming up in the region providing opportunities for more employment.

UNI