Indian steel company JSW Steel has started construction of a new steel plant in Kadapa district of Andhra Pradesh. Head of State Government Jagan Mohan Reddy attended the groundbreaking ceremony.
The production capacity of the new enterprise will be 3 million tons per year. According to Sajjan Jindal, CEO of JSW Group, the plant will be the greenest steel plant in India. It is also stated that company provided the modern and futuristic design for the project.
The project is planned to be implemented in two phases. Investments in the first will amount to around 33 billion rupees ($400 million). The first phase of the operation will have a capacity of 1 million tons per year, and its construction will take approximately 2-2.5 years. In the second phase, capacities will increase by another 2 million tons per year and the total amount of capital investment will exceed 1 billion dollars.
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