The YS Jagan Mohan Reddy government has taken another crucial decision. The dream of residents of the YSR Kadapa district for the construction of the steel plant has got a green signal. The government issued a directive on Wednesday to allow the establishment of a steel plant between the Jammalamaduga Mandal Sunnappuralapalli and Periyanaundoor panchayats. Chief Minister YS Jaganmohan Reddy will inaugurate the steel plant on December 26.
The government has decided to hand over 3,148.68 acres of land to AP Hybrid Steels Limited for the construction of an integrated steel plant in the YSR district. The government has already decided to allocate 3148.68 acres of land in the YSR district for the construction of an integrated steel plant. A cabinet meeting last month concluded that the land should hand over to AP Hygrid Steels.
YSR district collector V Usharani has ordered to hand over the land to AP Hybrid Steels as per the government decision. She directed the Chief Commissioner of Land Administration (CCLA) to quickly approve the land acquisition proposal (APLMA) and send it to the government.
According to the Companies Act 2013, a steel plant will be set up in the name of Hybrid Steels Limited. The ordinance states that the state government will increase the investment by 100%. Rs. 250 crore has been allocated to a steel plant in the 2019-20 budget.