Bramhani Industries

Bramhani Industries Limited also known as Brahmani Steels and Bramhani Steels is an Indian iron and steel company promoted by Obulapuram Mining Company and G. Janardhana Reddy.[1] The company is building a 1.7MTPA steel plant in Kadapa district of Andhra Pradesh.[2] The company has announced plans to source state of the art steel equipment from China.[3] The company has also proposed to build a 6 million metric ton steel plant in Bellary.[4] JSW steel is said to be in talks for partial ownership of OMC.[5] Bramhani steels and Obulapuram are linked to illegal mining of Iron ore in Karnataka.

Political connections and resource allotment

Brahmani steels is reportedly in profit before producing any steel, owing to iron-ore sales from captive mines allotted by the Andhra Pradesh Government.[6] Former Andhra Pradesh Chief minister Y. S. Rajasekhara Reddy allotted 10,670 acres (43.2 km2) of land to Brahmani steels at a rate of Rs 18,500 per acre in Kadapa.[7] There is also an ongoing controversy in the allotment of water to Brahmani Steels in Kadapa at the expense of Rayalaseema Thermal Power Project (RTPS).[8] Y. S. Jagan Mohan Reddy, the son of Y. S. Rajasekhara Reddy and the claimant of his political legacy, is reported to have a business interest in Brahmani.[9]

References

  1. ↑ "Bramhani Steels Board of Directors".
  2. ↑ "Bramhani Steels - About project".
  3. ↑ "Brahmani to source machinery from China for Kadapa plant". Business Standard.
  4. ↑ "Brahmani Steels signs MoU for Rs. 36,000-crore project". Chennai, India: The Hindu. 2010-06-04.
  5. ↑ "JSW, Reddys deal hinges on iron ore". The Economic Times. 2010-06-22. Retrieved 2010-06-24.
  6. ↑ "Gali steel factory in profit before it begins". Deccan Chronicle.
  7. ↑ "YSR gives 10,000 acres to Brahmani". Times of India. 2007-06-07.
  8. ↑ "Row over allocation of water to Brahmani Steels". The Hindu. 2010-03-04.
  9. ↑ "Links with Jagan put Reddy in spot". India Today.

External links

This article is issued from Wikipedia - version of the 11/7/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.