Telangana Govt invites JSW Steel to set up factory in Bayyaram
Hyderabad/ Mumbai: Telangana Minister for Industries K T Rama Rao (KTR) on Thursday assured JSW steel Chairman and MD Sajjan Jindal of complete cooperation if the company sets up a steel factory in Bayyaram in the state.
KTR, who met with top business and industry leaders in Mumbai, met Jindal and discussed Telangana government’s industry-friendly policies and the state’s economic progress, making it a favourable for investments with avenues of operation expansion, among other things.
It was good to reconnect with Sri @sajjanjindal Ji after a few years
— KTR (@KTRTRS) January 12, 2023
We spoke about potential opportunities to invest in Steel, Paints and sporting facilities in Telangana pic.twitter.com/LeusEN5vMm
The minister also told Jindal that the Central government and Steel Authority of India Limited (SAIL) are already mulling a steel plant in Bayyaram as there are ample iron ore reserves in Bayyaram and the adjacent Chhattisgarh.
For these reasons the area is ideal for setting up a steel plant, he added.
Jindal said he was aware of the Telangana government’s industry-friendly policies and praised Chief Minister K. Chandrashekar Rao’s leadership for the investments in the state in the past few years and the consequent economic progress.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Antonio Guterres ‘encouraged’ after Hamas indicates willingness to release Israeli hostages
Indian dental student shot dead at gas station in US
MedSage expands footprint with new branch in Rampurhat
Bangladesh interim govt faces international criticisms over human rights violations
