JAMMALAMADUGU: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy will lay the foundation stone for the AP High-Grade Steel Corporation (Kadapa steel plant) on Monday at Jammalamadugu in Kadapa district in Monday December 23rd, 2019.
A long-pending dream for the people of Kadapa the steel plant will address the issue of unemployment and migrations of youth in search of jobs.
The steel plant will be located between Sunnapurallapalle and Peddanandaluru villages in Jammalamadugu mandal of the Kadapa district is expected to start production in three years and create direct and indirect employment for 20,000 people said Industries and IT Minister M Goutham Reddy.
With the State government’s laws stipulating that 75 per cent of the jobs in the industries should be provided to the local youth, several unemployed in Kadapa and neighbouring districts are expected to get a major chunk of jobs.
Chief Minister YS Jagan Mohan Reddy had earlier signed an MoU with National Mineral Development Corporation (NMDC) for supply of iron ore to the proposed steel plan on December 18, 2019. As per the MoU NMDC will supply five million tonnes of iron ore to the AP High-Grade Steel Limited per year.
As per reports the State government has allocated Rs 250 crore in the budget for the steel plant. Land extent up to 3,295 acres was also allocated for the steel plant and the possession certificate was handed over to AP High-Grade Steel Corporation CMD Madhusudhan Reddy on December 17.
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A steel plant in Kadapa was one of the provisions of the AP Reorganisation Act, 2014 when the state of AP was bifurcated. The TDP, which came to power in 2014, promised to establish the steel plant and its efforts to set up the plant with the help of Centre failed to yield results.