Liberty Steel is JV Partner for YSR Steel’s Steel Plant in Kadapa
PTI reported that Andhra Pradesh has chosen Liberty Steel India Limited as the joint venture partner for construction and development of YSR Steel
PTI reported that Andhra Pradesh has chosen Liberty Steel India Limited as the joint venture partner for construction and development of YSR Steel Corporation Limited’s steel plant in Kadapa district. AP’s Minister For Transport & Information Mr Perni Venkataramaiah Nani said “The AP State Cabinet also approved alienation of 3,148.68 acres of land in Jammalamadugu mandal for the integrated steel plant at the rate of INR 1.65 lakh per acre.”
The AP government established the YSR Steel Corporation Limited 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 Kadapa Steel plant at a cost of INR 10,082 crore and INR 6,000 crore in phase 1 & 2 respectively with a capacity of three million tonne in each phase. YSR Steel Corporation set March 31, 2024 as the commercial operation date for phase 1 of the project, in which it has been targeted to produce 1 million tonne of crude steel.
AP government already signed a memorandum of understanding with NMDC for supplying the required 4.5 million tonnes of iron ore every year for the proposed steel plant. Linkages for other raw materials like limestone, dolomite, quartzite, ferroalloys, are under progress