JSW Group to invest in Andhra Pradesh

JSW Group has signed an Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) at the World Economic Forum, Davos.

This Memorandum of Understanding was signed by J Krishna Kishore, Chief Executive Officer, Andhra Pradesh Economic Development Board (APEDB) and Sajjan Jindal, Chairman, Jindal Group in the presence of Nara Lokesh, Minister for Information Technology, Electronics, Communication and Panchayati Raj.

With this MoU, Jindal Group proposes to establish a jetty at Ramayapatnam in Prakasam district as part of the group’s plans to expand their logistics footprint in South Asia.

JSW Group will invest Rs 1000 crore to establish a jetty at Ramayapatnam Port, further, the group plans to build a slurry pipeline for the group’s plant in Bellary district. This slurry pipeline will build synergies and linkages to Prakasam district.

Nara Lokesh, Minister for Information Technology invited Jindal Group to establish an integrated steel complex surrounding the coastal areas in Prakasam district to take advantages of logistics and supporting infrastructure in Andhra Pradesh.

Image Credit : static-news.moneycontrol.com

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