The government of the Indian state of Andhra Pradesh has chosen Liberty Steel India Limited as partner for YSR Steel Corporation Limited, the government’s arm to construct a greenfield steel mill in the state, a government official said on Wednesday, February 24.
The state official said that the state cabinet of ministers has also approved the allocation of land for the proposed 3 million mt per year greenfield steel plant to be located in the Kadapa district in the state.
Liberty Steel India Limited, the Indian arm of Liberty Steel Group, UK, had previously acquired the ailing steel mill assets of Adhunik Steel Limited in Odisha through the bankruptcy resolution process and restarted the operations of the latter last year.
The Andhra Pradesh government has also signed a memorandum of understanding (MoU) with state-run miner NMDC Limited for supply of 4.5 million mt of iron ore per year for the government’s proposed steel mill in partnership with Liberty Steel.