Vijayawada: Chief Minister N. Chandrababu Naidu will set foundation stone for the proposed integrated steel plant at M. Kambaldinne village, Mylavaram mandal in Kadapa on December 27. Orders in this regard were issued on Thursday.
The AP government earlier issued orders for formation of a 100 per cent state-owned company to facilitate setting up of the steel plant and a Joint Venture between the Rayalaseema Steel Corporation Ltd (RSCL) and APMDC (Mining SPV) for taking up mining and supply of iron ore to the steel plant.
P. Madusudan was appointed the chairman and managing director of the RSCL.
The private limited company was formed with a paid up capital of '2 crore (20 lakh shares of '10 each) and the Board of Directors of the RSCL constituted by establishing registered office at the corporate office of APMDC at Vijayawada.
