It decided to set up the Rayalaseema Steel Corporation in public private partnership to set up a steel plant at Kadapa.
The Amaravati Metro Rail Corporation had appointed a financial advisor or loan arranger for the purpose.
Vijayawada: The AP Cabinet that met here on Tuesday cleared three big ticket investment proposals.
It decided to set up the Rayalaseema Steel Corporation in public private partnership to set up a steel plant at Kadapa. This comes after the Centre delayed setting up the steel plant which was assured in the AP Reorganisation Act.
The state Cabinet also decided to develop Vizag Metro on public private partnership mode at a cost of Rs 8,300 crore over a stretch of 42.55 km in three corridors. The Cabinet decided to get financial assistance from different organisations for the metro project.
The Cabinet also decided to allot 2,395.98 acres to the APIIC free of cost to develop a mega industrial hub at Donakonda in Prakasam district.
( Source : Deccan Chronicle. )
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