Punganur, Mar 25 (KNN) The Andhra Pradesh minister for mines and geology Peddireddy Ramachandra on Friday laid the foundation stone for the upcoming manufacturing plant of Electrosteel castings at Punganur.

Addressing the occasion, Reddy said that Electrosteel castings is a pioneer in the production of ductile iron pipes and flange pipes in India, with a strong presence in 110 plus countries globally.

He hailed chief minister YS Jagan Mohan Reddy's commitment in creating a conducive environment for the establishment of industries in the state.

The upcoming manufacturing plant is the second in the state as first was established in Srikalahasti assembly constituency.

The state minister for mines and geology was accompanied by Rajampet MP PV Midhun Reddy at the event.

Speaking at the event, the Rajampet MP said, “Following the consent of the Chief minister, we are in the process of creating a new industrial corridor at Punganur and the district administration has already completed the exercise of identifying 2000 acres of land for the purpose.”

Midhun Reddy pointed out that the state government has already sanctioned three water projects to meet the drinking, irrigation and industrial needs of the Punganur constituency.

In a first step towards bringing industrial progress at the Punganur assembly constituency, Electrosteel castings will invest Rs 165 crore in establishing the new manufacturing plant and the new production facility will provide direct employment to 250 people and indirect employment opportunities to more than 800 people in the constituency.  (KNN Bureau)