Chinese steel major Ansteel keen to set up plant in Andhra Pradesh

Chinese steel major Ansteel, a government-owned company, has evinced interest in setting up a steel plant in Andhra Pradesh at a cost of Rs 3,000 crore, said an official release recently.

AP chief minister N Chandrababu Naidu, on the first day of his four-day tour of China, on Sunday held a bilateral meeting with Ansteel secretary and president Feng Zhanti and other company officials in Tinajin and invited them to visit the state and select a suitable location for the proposed steel plant, the release from CMO said.

'Since India is growing very rapidly, there will be a lot of demand for steel in the country and Ansteel group can explore a partnership with either private or public steel enterprises,' the chief minister told the Chinese team.

As construction of the state's new capital city Amaravati was underway, there was huge demand for steel in the state as well, he pointed out.

TOI