Baldota Group to invest Rs 54,000 cr to set up steel plant in Karnataka

Company and state government to sign agreement at investors summit for integrated facility in Koppal taluk

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.