Andhra Pradesh CM YS Jagan Mohan Reddy Inaugurates Cement Factory, To Create Over 1,000 Jobs

The investment in the factory would be nearly Rs 2,500 crore which has been roped in through the Greenfield project

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday laid foundation stone for the Ramco Cement factory at Kalvatala village of Nandyal district, which would create 1,045 jobs. The plant will be set up in the next 30 months, he said while addressing media at Nandyala on Wednesday.

The investment in the factory would be nearly Rs 2,500 crore which has been roped in through the Greenfield project. The factory to be operated at a production capacity of 2 Million Tonnes Per Annum.

While assuring that this will be a benefit to the farmers, he said, "The establishment of this company is a good example of facilitating trade. We are providing full support to the companies. Through green energy projects, job opportunities will increase in the Rayalaseema region, which will benefit the farmers."

Topping Ease of Doing Business India for third year in a row, Andhra Pradesh is prioritising Investment, Employment, and Development. In the first seven months of this year, from January to July 2022, Andhra Pradesh roped in highest investment of Rs 40,361 crore while the total investment India has roped is Rs 1.71 lakh crore. Andhra Pradesh is the fastest growing state in the country with more than 10 pr cent growth rate.

Meanwhile, the state reported an 11.43 per cent Gross State Domestic Product (GSDP) growth rate, higher than the country's 8.7 per cent GDP growth rate during the 2021-22 financial year.