Industry Secretary Mekapati Goutham Reddy admitted that UK-based Liberty Steel was not financially sound but turned down reports that the Andhra Pradesh government is helping to build the 3-MTPA integrated steel mill in Kadapa district Has.
Goutham Reddy spoke to the media after holding a review meeting on industrial extraction on Wednesday. He said the government had talks with Liberty Steel but did not sign a letter of intent, widely reported.
He claimed that the state government would take responsibility for the construction of the steel mill itself, for which various plans were being discussed.
He pointed out that the Kadapa steel mill was tied to the mood of the people and said the government was ready to implement “Plan B” without further elaboration.
Regarding GO RT # 13 issued Tuesday for designating the Infrastructure Corporation of AP (INCAP) as the node agency for the state’s national monetization pipeline, Goutham Reddy said this should not be construed as consent to divestment / privatization various public sector companies. It was just a formality, he realized.
The minister said the industry incentives for the 2014-21 period were around £ 4,104 billion and were being phased out.
The total amount of outstanding payments, including those on hold by the previous government, was £ 4,923 billion. The number of claims was 43,884.
The government coffers are empty, but expanding much-needed support to industry has been given due priority, he added.