 "Baldota Group to invest Rs 54,000 cr to set up steel plant in Karnataka")
Karnataka-based Baldota Group will invest Rs 54,000 crore to set up an integrated steel plant with a production capacity of 10.50 million tons per annum in Koppal taluk.
The company will sign a memorandum of agreement with the state government at the global investors’ summit on Tuesday in the presence of Chief Minister Siddaramaiah, said Rahul Kumar N Baldota, joint managing director of Baldota Group, in a press statement.
The plant will significantly boost steel production in Karnataka and generate large-scale employment opportunities. It will be established as Baldota Steel and Power Limited.
“Our vision is to make Baldota a leading company in the country. This project will undoubtedly become Karnataka’s pride in the steel industry,” he said.
The Baldota Group is a leading player in mineral exploration, mining, industrial gases, pellet production, wind power, shipping and waste treatment products. It operates iron ore mines in Karnataka.