Jindal Steel & Power to Invest Rs. 10,000 Crore in Andhra Pradesh Steel Plant, Creating 10,000 Jobs

Company Chairman Naveen Jindal announces plans to sign MoU with Andhra Pradesh government for renewable energy investments and further expansion.

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Jindal steel and power limited
Representational image/ Copyright: Respective authority

Visakhapatnam (Metro Rail News): Jindal Steel & Power Limited has announced that it will invest Rs. 10,000 crore for establishing a 3 million tonne per annum steel plant in Andhra Pradesh, according to the company’s chairman, Naveen Jindal. The project will generate over 10,000 jobs, both directly and indirectly. Jindal added that the group plans to sign a memorandum of understanding (MoU) with the Andhra Pradesh government for investing in renewable energy through solar, wind and hydro energy sources, as well as expanding the capacity of its existing cement plant. This announcement was made by Jindal at the Global Investors Summit 2023 held in Visakhapatnam.

Jindal also announced that his group will ink a Memorandum of Understanding (MoU) with the Andhra Pradesh Government to invest in renewable energy sources like solar, wind and hydro. In addition, the company plans to increase the capacity of its existing cement plant, invest in a port, construct a slurry pipeline, and establish an MSME park in the state.

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