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Liberty Steel India chosen as JV partner for YSR steel plant

Wednesday, 24 Feb 2021
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Andhra Pradesh government has chosen Liberty Steel India as the joint venture (JV) partner for construction and development of YSR steel plant in Kadapa district.

The State Cabinet, under the chairmanship of Chief Minister of Andhra Pradesh Y S Jagan Mohan Reddy, also approved alienation of 3,148.68 acre of land in Jammalamadugu mandal for the integrated steel plant at the rate of Rs 1.65 lakh per acre.

The Andhra Pradesh government established the YSR Steel Corporation for development and operation of a new steel plant in Kadapa district and invited proposals in November 2020 from renowned companies for inducting as a joint venture partner.

The proposed steel plant will have a capacity of up to three million tpa for producing high grade steel products.

The state government already signed a memorandum of understanding (MoU) with NMDC for supplying the required 4.5 million tonne of iron ore every year for the proposed steel plant.

Liberty Steel India will spend Rs 10,802 crore on building the steel plant. The plant will provide direct and indirect employment to about 25,000 people.

The state government pooled 3,148.68 acre of land spread over two villages for the integrated steel plant, which will now be alienated to the YSR Steel Corporation for Rs 1.65 lakh an acre.

The YSR Steel Corporation set 31 March 2024 as the commercial operation date for Phase-1 of the project, in which it has been targeted to produce one million tpa of crude steel finished products.

The plant will use the latest green technologies in steel making to enable sustainable production.

 

 
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