Andhra Pradesh government to set up Kadapa steel plant on its own

Andhra Pradesh government to set up Kada...

 

It will be set up as a government-owned entity with private participation and to form a special purpose vehicle called Rayalaseema Steel Corporation
In a significant move related to the proposed integrated steel plant in Kadapa district, the Andhra Pradesh Cabinet has resolved to set it up as a government-owned entity with private participation and to form a special purpose vehicle called Rayalaseema Steel Corporation (RSC).

This is in response to the Central government dragging its feet on fulfilling the assurance to set up the steel plant in accordance with A.P. Reorganization Act, 2014 (APRA).

Rashtriya Ispat Nigam Limited (Vizag Steel Plant) former CMD P. Madhusudhan has been appointed managing director of the SPV which will have an initial corpus of ₹.2 crore and the total project cost has been estimated to be ₹.12,000 crore.

A.P. Mineral Development Corporation Limited has been mandated to extend financial assistance for it.

It may be noted that there has been a spat between the Ministry of Steel (MoS) and the A.P. Government over the availability of iron ore, its quality and other issues thereof. The technical aspects were being examined by MECON Limited, an undertaking of the MoS.

The Cabinet has also decided to develop Visakhapatnam metro rail in a public-private partnership and to provide for it ₹.8300 crore.

Letters to the PM
For mounting pressure on the Central government to deliver its promises to A.P., the Cabinet has decided to write three letters to the Prime Minister.

Through the letters, Chief Minister N. Chandrababu Naidu will reiterate the State's right to have all its legitimate demands including the Special Category Status and implementation of APRA conceded, seek adequate compensation for damages caused by cyclone Titli and protest against the alleged neglect of the Centre in sanctioning Kadapa steel plant.

The Cabinet has also given the nod for allotment of nearly 2400 acres free of cost to A.P. Industrial Infrastructure Corporation Limited for the development of a mega industrial hub at Donakonda in Prakasam district.

Besides, the Cabinet has cleared the implementation of protected drinking water schemes in Rayalaseema districts at a cost of ₹.9400 crore, sanctioned ₹.6000 crore for the development of critical infrastructure in urban areas and decided to set up 152 more Anna canteens.


PostedOn: 08 Nov 2018 Total Views: 70




‘We are demanding probe into Jagan attac...

‘We are demanding probe into Jagan attack': YSRCP ...

"The major development that took place was the attack on Jaganmohan Reddy who moved the court seeking a judicial or CBI inquiry,” the YSRCP claimed The YSRCP on Friday said that Andhra Pradesh Chief Minister N Chandrababu Naidu had become ‘paranoid’ citing the state government&rsqu...

17 Nov 2018

Telangana polls: Jagan and Pawan seem wi...

Telangana polls: Jagan and Pawan seem willing to d...

Any major setback here will have serious negative consequences for both in the AP Assembly election set to be held a few months later. The last day for nominations in the Telangana polls is fast approaching but there is no indication from the Jana Sena Party chief and actor-turned-politician Pawan K...

16 Nov 2018

Make one party president from outside Ne...

Make one party president from outside Nehru-Gandhi...

Taking a cue from Shashi Tharoor’s ‘chaiwala’ jibe, Prime Minister Narendra Modi attacked Congress on Friday saying it doesn’t want to credit people for choosing him as the prime minister as the Congress party is only interested in promoting dynasty. Taking potshots even at N...

16 Nov 2018

‘I am agitated’: Karthik Reddy speaks to...

‘I am agitated’: Karthik Reddy speaks to TNM after...

Karthik Reddy said that he would not like to jeopardise his mother Sabitha Indra Reddy’s chances, but said that he made personal promises as well. Former minister Sabitha Indra Reddy’s son, Patolla Karthik Reddy, who was with the Congress’ campaign committee, sent his resignation a...

16 Nov 2018

Naidu bars CBI from carrying out investi...

Naidu bars CBI from carrying out investigations in...

Although the CBI is yet to respond to Andhra’s GO, former CBI Director Vijay Shankar told TNM that Andhra’s order is part of the law and there is nothing unusual about it. Fuelling the bitter war between the TDP and the BJP further, the Chandrababu Naidu led Andhra Pradesh government has...

16 Nov 2018

Blow to Telangana Congress: Senior leade...

Blow to Telangana Congress: Senior leader Abid Ras...

In his resignation letter, Abid Rasool Khan said that the 15-18% Muslim population has no importance for the Congress leadership. The Telangana Congress suffered another blow on Wednesday, with senior leader and former state Minorities Commission Chairman Abid Rasool Khan resigning from the party. H...

16 Nov 2018

BJP releases third list with 20 candidat...

BJP releases third list with 20 candidates for Tel...

Puppala Raghu has been announced for Huzurabad, while Nagurao Namaji will take on Revanth Reddy from the Congress in Kodangal. The Bharatiya Jana Party (BJP) released its third list of 20 candidates on Thursday for the upcoming Telangana polls which is scheduled to be held on December 7. “The ...

16 Nov 2018

Former Hyd Mayor Karthika Reddy protests...

Former Hyd Mayor Karthika Reddy protests outside R...

The former mayor along with her husband sat outside the Congress president's residence for five hours, demanding the Secunderabad seat. Demanding the Secunderabad ticket, former Mayor of Hyderabad Banda Karthika Reddy and her husband Chandra Reddy sat in protest outside the residence of Congress pre...

16 Nov 2018