JSW Group to build Green Steel Plant in Andhra Pradesh with an investment of INR 8,800 crore

Sakshi Agrawal Feb 16, 2023 0

On February 15, 2023, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy laid the foundation stone for a new green steel plant in YSR Kadapa district, Andhra Pradesh which will be set up by JSW Group. The initial investment in the plant will be INR 3,300 crore. The plant is expected to produce one million tonnes of steel per annum during the first year. The facility will eventually have a capacity of three million tonnes per annum, with a total investment of INR 8,800 crore for all three phases.

Jagan stated that once the green steel plant is set up, it will create an ecosystem with several ancillary units, and transform the entire area into a Steel City. He added that necessary infrastructure, such as road, power, and water supply, will be provided to the plant, with an outlay of INR 700 crore.

Sajjan Jindal, chairman and Managing Director of JSW Group, expressed his hope that the new steel plant would become a model for green steel production. He plans to build a very futuristic and modern steel plant, which will be the “greenest steel plant” in the country and the world, operating on “green fuel.”

The plant is expected to be commissioned within 24 to 30 months. Jindal believes that over the years, the area will become known as the steel district of India. With this new investment, JSW Group is aiming to become the world’s largest steel plant with a production capacity of 25 MTPA, up from its current 13 MTPA capacity.

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Also read : Over 1197 new projects tracked in January 2023


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