According to Chairman of the Andhra Pradesh State Industrial Promotion Board (APSIPB), Mr. Naidu cleared  the proposal of Universal Coke & Power Limited which is promoted by Shri Ram Ventures Limited which is a part of Shri Ram Group. The company proposes to set up its plant in Nellore district near Krishnapatnam port.

The plant proposes to set up a non-recovery coke pant along with 35MW power plant using the heat generated in the main plant.  According to  APIIC Chairman P.Krishnaiah, the AP government has decided to allot 175 acres of land for the purpose of this plant.  The company is investing Rs 725 crores and will provide 1,525 jobs in the next 18 months.