Srikakulam, Andhra Pradesh, Jun 27 : Andhra Pradesh Chief Minister K Rosaiah Inaugurated the Srikurmam Mineral Sands Major project in the Gara Mandalm in Vatchavalasa Village in the Backward District.Speaking after inaugurating the Mineral sands Project here yesterday, he called upon the non-recident Indian(NRI) investors to come farward to set up more Industries in state and generate more employement in the backward districts. Now Gujarat is first state for developing more industries and Andhra Pradesh was at second position in terms of developing more industries in the country.
He also said Visakhapatnam Port city would see phenominal growth in the Industrial sector. The State government had proposed to lay a gas pipeline from Kakinada to Visakhapatnam and six more Nuclear Power plants in the state.Several minister of Andhra Pradesh, Revenue, D Prasada Rao, Rural Development, V Vasath Kumar, Transport minister.S Vaijayaramaraju and Major Industries and Commerce and Export promotion Minister K.Lakshmi Narayana and MP K Kruparani, MLC, MlA, sand P Rajasekharam Zilla parishad chairman were participated in the inaugural function in a grand way.The high value heavy minerals are used across wide spectrum of industries like paints, ceramics, abrasives, aircraft parts and artificial gems. Prasad R Koneru, Group Chairman in his welcome address here, said the project got approvals from 15 agencies. The company would take up expansion for value addition to ilmenite by end of this year or early next year at a cost of Rs 1,200 crore and production should start in 30 months at Bhavanapadu through equity and debt funds in the ratio of 30:70. Overall, Rs 4,000 crore would be invested over eight years towards expansion and production of high value titanium dioxide used in paint industry and titanium metal, he said.
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