Surya Group of companies signs four MoUs with Karnataka

The Surya Group of Companies today signed four MoUs with the Karnataka government at the Global Investors Meet for a total investment of around Rs 27,000 crore on projects related to steel, cement, power and lighting.

In Bagalkot district, Surya Vijayanagar Steel and Power plans to set up of a 6-MTPA integrated steel plant along with a 500-Mw captive power plant through an investment of Rs 24,000 crore.

In the Bagalkot and Gulbarga districts, Surya Vijayanagar Cement plans to set up a 5-MTPA slag and clinker-based cement Plant with an investment of Rs 2,690 crore.

In Shimoga District, Surya Global Steel Tubes is setting up a 2-lakh tonne ERW steel black and GI pipes plant.

In Shimoga, Surya Roshni will set up a fluorescent tube lights, CFL, GLS lamps, PCB and LED lamps manufacturing plant.

With the establishment of these four plants, Surya Group expects to generate employment for approximately 15,000 locals.

As part of its corporate social responsibility (CSR) activities, Surya Group will set up ITIs for vocational training at Shimoga and Bagalkot to impart industrial training to the people. It has also started adopting 500 villages in Karnataka, where it will impart education, health and other skill-building activities.