Lalitanjali to set up steel industrial park in Vizag; invests Rs 650 cr

June 25, 2014 12:00 am

Infrastructure engineering and supply chain management company Lalitanjali Group announced that it will be setting up the first steel industrial park in India at Vishakapatnam.
 
“An investment of Rs 650 crore will be made to purchase over 100 acres of land which is already underway and will comprise of 15-20 ancillary units guided by a pilot company which can be accommodated in it. Over all capacity of the industrial park would be approximately 7-8 lakh tonnes, with captivate power of 25 MW,” the company said issuing a statement.
 
The Industrial Park would house facilities like effluent treatment plant, water treatment plant, admin block, guest house, labour quarters, residential quarters, educational institute (special diploma in steel industry), truck terminal, container terminal, raw material storage, end product storage house, mechanical sheds, laboratory, air pollution control system, weighment bridge, internal material handling logistics, flyash bricks manufacturing, communications, banks, police station, post office, cafeteria, super bazaar, hospital, and fire and safety.
 
“This offers a huge business opportunity  for companies in India, as the landing costs of raw materials from other countries is cheaper by $5 to $6 in Vizag compared to other states. The city has a significant geographical advantages because of the presence of two major ports, better air connectivity, and its strategic location closer to the South Asian market. For this very reason we have already received interest from over 20 companies to establish a base here,” informed Rahul Rao, CEO, Lalitanjali Group.