Baldota Group has announced plans to invest Rs 54,000 crore in establishing an integrated steel plant in Koppal taluk, Karnataka. The plant, which will operate under Baldota Steel and Power Limited, will have a production capacity of 10.50 million tons per annum.
According to a press statement by Rahul Kumar N Baldota, joint managing director of Baldota Group, the company will sign a memorandum of agreement with the Karnataka government at the global investors’ summit on Tuesday.
The company stated that the project is expected to contribute to steel production in the region and create employment opportunities. Baldota Group is involved in mineral exploration, mining, industrial gases, pellet production, wind power, shipping, and waste treatment and operates iron ore mines in Karnataka.
Founded in 1961 by Abheraj H. Baldota, Baldota Group has expanded from a mining-focused company to a diversified conglomerate with interests in pelletization, wind power, gases, shipping, aviation, environmental care, mental wellness, and startup investments. The company emphasizes research and development to locate new mineral resources and enhance value creation across its operations.