The JSW Group has entered a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) at the World Economic Forum in Davos, Switzerland.

The company plans to build a jetty at Ramayapatnam port and a slurry pipeline at a total investment of Rs 4,500 crore.

JSW Group will invest Rs 1,000 crore to establish a jetty at Ramayapatnam port in Prakasam district. It also plans to set up a slurry pipeline with an investment of Rs 3,500 crore for the group's plant in Bellary district of Karnataka. The slurry pipeline will build synergies and linkages to Prakasam district.

The Andhra Pradesh government has formed a special purpose vehicle (SPV), the AP Maritime Infrastructure Development Corporation, to develop the Ramayapatnam port at a cost of Rs 4,240 crore (Phase-1) with eight berths.

The port is proposed to be developed on 3,092 acre and will have a capacity of 40 million tpa.