Kothari Industrial to Invest Rs 500 Cr in Assam

Chennai, Feb 28 (PTI) The diversified conglomerate Kothari Industrial Corporation Ltd has signed a Memorandum of Understanding with the Assam government to establish mineral and ore extraction projects with an investment of Rs 500 crore, a top official said.


The project will be developed in collaboration with the government and public sector undertakings, creating approximately 3,000 new jobs in the region.

The company stated on Friday that the MoU was signed in the presence of Assam Chief Minister Himanta Biswa Sarma at the Advantage Assam 2.0 Investment and Infrastructure Summit, which was recently held in Guwahati.

"This is just the beginning. We are actively working on expanding into multiple states across India. My long-standing vision of transforming KICL into a multinational corporation is now becoming a reality," said KICL Chairman Rafiq Jinnah Ahmed.

"This MoU with Assam is a stepping stone toward our larger global ambitions," he added.