AP invites POSCO for setting up steel plant at Krishnapatnam

The AP government has invited POSCO India Private Limited, the Indian subsidiary of the Korean conglomerate POSCO, to establish a greenfield integrated steel plant at Krishnapatnam in the Nellore district.

In a letter addressed to Sung Lae. Chun, Chairman and Managing Director of POSCO India, special chief secretary, R. Karikal Valaven said the government is keen on having the unit at Krishnapatnam while pointing to the interest expressed by the firm on the location.

The government move gained significance in the backdrop of growing resentment over Centre’s disinvestment plans of Vizag Steel Plant (VSP).

The letter is seen as an attempt by the state government to divert the plant to Krishnapatnam and safeguard the interests of VSP and its workers.

In his letter, Valaven said, “I would like to highlight the fact that the government of AP has been a front-runner in providing unparalleled support to the industry and the industrial policy 2020-23 is considered as one of the best in the country.”