Hyderabad, July 13 (IANS) Jai Raj Ispat Ltd on Wednesday announced that it will establish a steel plant in Telangana with an investment of Rs 3,000 crore.
The proposed plant will come up at the Group’s 250-acre land in Dharur mandal of Mahabubnagar district.
The plant will come up in two phases. With a production capacity of 10 lakh tonnes annually, the plant will provide direct employment to 1,200 while 3,500 will be indirectly benefitted.
Jai Raj Ispat Limited Executive Director Siddharth Jain met Telangana’s Minister for Industries K.T. Rama Rao and briefed him about the project, said a statement from the government.
Jain said that they have surveyed industrial atmosphere in all the states and eventually chose Telangana due to its proactive and prompt governance. The visiting team also said that there is positive response from the industry towards Telangana’s policies.
The minister assured the Group of all cooperation from the government and directed the Arvind Kumar, Secretary, industries to take requisite steps.
The Jai Raj Steel representatives said that they will introduce top-notch, state-of-the-art technology in the plant hat shall drastically reduce pollution levels. The company will produce TMT bars out of the new facility.