US-based Brighton Energy, a heavy equipment and forged steel manufacturing firm, plans to invest about Rs 2,724 crore to set up a facility near Visakhapatnam, to manufacture forged steel components, which would be used in nuclear power plants.

Kit Kung, Chairman - Brighton Energy led a delegation to meet Andhra Pradesh Chief Minister Kiran Kumar Reddy to discuss the project details. The company is expected to enter into a memorandum of understanding with the Andhra Pradesh government in the next 2-3 weeks. The company has requested the government for 800 acres of land at Nakkapalli near Visakhapatnam. It has also asked for allocation of natural gas for the project, in order to set up a captive power plant to meet the energy requirement.

The facility is expected to employ about 2,500 highly-skilled engineers and create indirect jobs for about 100,000 people through vendors and other ancillaries at the main facility.