Baldota Group to enter steel sector with ₹54,000-cr project in Karnataka

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Baldota Group to enter steel sector with ₹54,000-cr project in Karnataka - Business Standard

Quick Summary:

Renewable energy player Baldota Group on Thursday said it plans to foray into the steel sector with an investment of Rs 54,000 crore for setting up a project in Karnataka with up to 10.5 million tonnes of (MT) production capacity.

Once commissioned, the greenfield project will be the second largest steel plant in the state, creating lakhs of direct and indirect jobs, said Nagaraj N B, Vice President of the Integrated Steel Project in a company statement.

According to the Karnataka-based diversified group, it currently operates in the areas of renewable energy (wind and solar), shipping, pellets, gases and mining.