Business IdeasCentre to invest Rs 9,000 cr in Vizag Steel expansion
The central government would invest Rs 9,000 crore for the expansion of the Vizag Steel Plant, Andhra Pradesh Chief Minister K Rosaiah said here today.
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"The government of India has decided to invest about Rs 9,000 crore for the expansion of Vizag Steel Plant," he said addressing a gathering after inaugurating new buildings of the Andhra Chamber of Commerce.
Highlighting that the state is making rapid progress in industrialisation, he said the PSU firms-- NTPC and BHEL-- would set up a power plant equipment manufacturing unit in Chittoor district with an investment of Rs 6,000 crore.
Renowned footwear manufacturing company Apache has also taken up expansion of its existing facility in Nellore district, he said.
Colombo-based Brandix has started its operations and their gigantic unit is slated for inauguration at Visakhapatnam, Rosaiah said.
Asking industrialists to invest in the state, he pointed out that World Bank has named Hyderabad as a business-friendly city.