<p>Bengaluru: Karnataka-headquartered Baldota Group on Monday, announced the setting up of a mega steel plant in Koppal district at an investment of Rs 54,000 crore. The integrated steel plant will have a capacity of 10.50 million tonnes per annum (MTPA), while creating 15,000 jobs for locals.</p><p>A memorandum of understanding (MoU) for this will be signed on Tuesday at the Global Investors' Meet, between the Karnataka government and Baldota Group.</p><p>The new steel plant will be established under the name Baldota Steel and Power Ltd (BSPL). The project is aimed at boosting steel production in the state and generating large-scale employment opportunities. </p><p>The Baldota Group has interests in mineral exploration, mining, industrial gases, pellet production, wind power, shipping, waste treatment products and is also operating iron ore mines in the state, operated by subsidiary MSPL Ltd, among others.</p><p>The upcoming investment isn't the company's first venture into steel production. In November 2022, Aaress Iron & Steel Ltd, a subsidiary of the Baldota Group, had announced setting up of a steel plant at an outlay of Rs 18,000 crore, also in the Koppal district.</p><p>The company had also signed a MoU with the state for establishing a steel plant of 3.5 MTPA capacity. The project promised providing 10,000 direct and indirect jobs to locals.</p>
<p>Bengaluru: Karnataka-headquartered Baldota Group on Monday, announced the setting up of a mega steel plant in Koppal district at an investment of Rs 54,000 crore. The integrated steel plant will have a capacity of 10.50 million tonnes per annum (MTPA), while creating 15,000 jobs for locals.</p><p>A memorandum of understanding (MoU) for this will be signed on Tuesday at the Global Investors' Meet, between the Karnataka government and Baldota Group.</p><p>The new steel plant will be established under the name Baldota Steel and Power Ltd (BSPL). The project is aimed at boosting steel production in the state and generating large-scale employment opportunities. </p><p>The Baldota Group has interests in mineral exploration, mining, industrial gases, pellet production, wind power, shipping, waste treatment products and is also operating iron ore mines in the state, operated by subsidiary MSPL Ltd, among others.</p><p>The upcoming investment isn't the company's first venture into steel production. In November 2022, Aaress Iron & Steel Ltd, a subsidiary of the Baldota Group, had announced setting up of a steel plant at an outlay of Rs 18,000 crore, also in the Koppal district.</p><p>The company had also signed a MoU with the state for establishing a steel plant of 3.5 MTPA capacity. The project promised providing 10,000 direct and indirect jobs to locals.</p>
