Baldota Group to Invest Rs 54,000 cr in Karnataka Steel Plant

Bengaluru, Feb 10 (PTI) Ahead of the Global Investors Meet (GIM), the Karnataka government received a major boost as the Baldota Group announced an investment of Rs 54,000 crore to set up an integrated steel plant in Koppal taluk with a production capacity of 10.50 million tonne per annum.

A government statement said the company will sign a Memorandum of Agreement during the GIM on Tuesday in the presence of Chief Minister Siddaramaiah.

"Rahul Kumar N Baldota, Joint Managing Director of the Baldota Group, made this announcement," it said.

"The new steel plant will be established under the name Baldota Steel and Power Limited (BSPL) in Koppal. According to Rahul Kumar Baldota, this project will significantly boost steel production in Karnataka and generate large-scale employment opportunities for locals," the statement said.

"Our vision is to make Baldota a leading company in the country. This project will undoubtedly become Karnataka's pride in the steel industry," it quoted Rahul Baldota, as saying.

The Baldota Group is a leading player in mineral exploration, mining, industrial gases, pellet production, wind power, shipping, and waste treatment products. It also operates iron ore mines in Karnataka.

With a 70-year legacy in mining, the Baldota Group has received a five-star rating award from the Centre for six consecutive years, the statement said.

According to the Karnataka government, the company has planted two million trees and adopted 20 villages under its corporate social responsibility (CSR) initiative, contributing to education, healthcare camps, sanitation, and women's empowerment in rural areas.

Invest Karnataka 2025, the state's flagship Global Investors' Meet (GIM), will be held from February 12-14.