Kadap Metallurgical Plant is a steel project of a joint venture between Liberty Steel and the government of Andhra Pradesh (India), which received an environmental permit from the state government. The permit was obtained four months after the state government applied for environmental approval.
The original application required an environmental impact assessment and was submitted on December 20th – last year, following some changes that were submitted at the end of January this year. The final approval by the Evaluation Committee (EAC) follows a comprehensive review of the proposals, according to an official statement released by the state government.
The government is proposing a joint venture for steel production in the villages of Sunnapurallapalle and Peddananduluru in the Kadapa region with a production capacity of about 3 million metric tons per year in the first phase. The expected investment in the first phase is INR 10,082 crore. The second phase will be an investment of Rs 6,000 crores, which in turn will double the plant’s production capacity. He entered into a contract for the supply of iron ore with the National Mineral Development Corporation (NMDC).
Liberty Steel has been appointed as a joint venture partner on the recommendation of SBICap.