Indian Economy is set to touch the $5 trillion GDP mark soon. Further the growing middle class and fast urbanisation is set to increase steel consumption in the country. The various government initiatives to boost infrastructure and the overall growth of the economy will create huge demand for high grade, good quality steel products.
As India’s steel making capacity is expected to touch 300 Million Tonnes per Annum by 2030 as per the National Steel Policy, 2017 and in-line with the promotion of industrial growth in the state, YSR STEEL CORPORATION LIMITED (Erstwhile "AP High Grade Steels Limited"), was incorporated on November 21, 2019 as a wholly owned company of Government of AP with a mandate to establish an steel plant at YSR Kadapa District.
Subsequently, the Hon’ble Chief Minister of Andhra Pradesh had laid the foundation stone for APHSL on December 23rd 2019 at Sunnapuraalla Palle village of YSR Kadapa District.
The vision is to setup a state-of-the-art steel plant in YSR Kadapa district of Andhra Pradesh with a capacity of up to 3 Million Tonne per Annum (MTPA) producing high grade steel products, leveraging its connectivity by road, rail, sea & air, proximity to raw material sources and access to major auto and industrial hubs, and thus drive growth in the region by providing direct and indirect employment opportunity for over 25,000 people.
The project has been a dream for the people in this most backward and drought prone region and will be a booster for industrial growth in this part of the state. The Hon’ble CM of AP Shri Y. S. Jagan Mohan Reddy is fully committed to make this dream a reality and get the project commissioned on fast-track mode. The plant is expected to use the latest green technologies in steel-making to enable sustainable production making APHSL a key milestone in the growth story of Andhra Pradesh.