Baldota to set up new steel plant

Baldoata Group, on Tuesday, announced that it is setting up a new integrated steel plant in Koppal — worth Rs 4,700 crore — to manufacture products for automobile & auto parts producers and other engineering industries. A pellet plant is also to be installed there by MSPL, a Baldota Group firm, for which 1036 acres of land has been acquired by KIADB.

Further, the group company — Aaress Iron & Steel Limited, (AISL) said they expect to complete the first phase comprising 1.2 million tonnes (mt) capacity by the end of 2010. And the second phase will see an addition of 3.5 mt with an additional investment of Rs 8,500 crore.

MSPL operates in a number of mines in the Bellary-Hospet region in Karnataka.