AP government invites Korean steel giant POSCO to set up plant
AMARAVATI: Andhra Pradesh government invited South Korea's POSCO to set up a steel plant in Krishnapatnam, Nellore district. The government also assured that they will provide fiscal and non-fiscal incentives as stipulated in the Industrial Policy 2020-23. On other hand, opposition parties fighting against the Centre's decision on privatisation of the Visakhapatnam Steel Plant and alleged that the ruling YCP colluded with the Centre over Vizag Steel Plant privatisation. Oppositions alleged that CM YS Jagan had a deal with POSCO to hand over the Steel Plant.
State Special Chief Secretary (Industries and Investment) R Karikal Valaven wrote a letter to POSCO inviting delegation from its Seoul headquarters to discuss the proposal to set up the plant at Krishnapatanam.