A delegation of Officials from KIOCL (formerly Kudremukh Iron Ore Company, a Government of India Enterprise) lead by its Chairman and Managing Director K Ranganath today called on Chief Minister N Kiran Kumar Reddy at the Camp Office and envisaged interest to set up a integrated steel plant in Anantapur District of Andhra Pradesh. KIOCL to invest Rs 8,000 cr on steel plant most probably the resources allocated to Gali Janarthan reddy Brahmani Steel plant would be transfer to this new plant.
An official release said here the KIOCL Chairman told the Chief Minister that on allocation of iron ore mining lease, KIOCL will invest for development of mines, beneficiation plant, pelletisation plant and value addition plants and integrated steel plant with an investment of Rs 8,000 crore by forming joint ventures with State agencies in Bommanhal and D Hirelal Mandals. Andhra Pradesh Revenue Minister N Raghuveera Reddy was also present on the occasion.
The delegation requested the Chief Minister to grant prospecting license and mining lease for their project, which will generate direct employment to about 8,000 people. The Chief Minister instructed the officials to convene a meeting at the earliest to work out the modalities, the release said.