State to hold talks with Posco

The Karnataka government is will have second round of discussions with South Korean steel major Posco in Seoul in the first week of April regarding the company’s plan to build a Rs 32,000-crore steel plant in the state, having a six-million tonne annual capacity, minister for large and medium industries Murugesh R Nirani said.

A team of officials from Posco had recently visited the state to finalise the location for their proposed steel plant. However, it has not taken any decision on its plan to invest in the state.

The government will allot 500 acres to two-wheeler major Hero Honda near Dharwad to set up a Rs 2,000-crore manufacturing plant with annual capacity of one lakh units, he said.

“Hero Honda is coming (to the state). We are going to give them 500 acres near Hubli airport near Dharwad. They are investing Rs 2,000 crore. They need 1,000 skilled workers. It will have annual capacity to manufacture 100,000 two-wheelers,” he said.

Nirani said discussions would also be held with the TVS Group in the next few days on the possibility of the latter putting up an engine manufacturing unit in the state.