KIOCL, formerly Kudremukh Iron Ore Company, has come up with a proposal to set up a Rs 8,000-crore integrated steel plant in the drought-prone Anantapur district of Andhra Pradesh.
An official delegation from KIOCL, a Government of India enterprise, met the State Chief Minister, Mr N. Kiran Kumar Reddy, on Friday. The team expressed their keenness to take up the project and has sought the State Government support.
The delegation headed by KIOCL Chairman and Managing Director, Mr K. Ranganath, made a detailed presentation about the project to the Chief Minister and senior officials on Friday.
According to a statement from the Chief Minister’s Office, Mr Ranganath informed that on allocation of iron ore mining lease, KIOCL will invest for development of mines, beneficiation and pelletisation plants and facilities for value-addition. This integrated steel plant is likely to see an investment of Rs 8,000 crore.
This project would be taken up by forming joint ventures with State agencies in Bommanhal and D.Hirelal mandals of the district.
Direct employment
The delegation requested the Chief Minister to grant prospecting licence and mining lease for the project. This project is expected to generate direct employment to about 8,000 people, the Government was informed.
The Chief Minister instructed the officials to convene a meeting at the earliest to work out the modalities.