With the partial revival of mining activity in Ballari in Karnataka, one of country’s largest steel makers Mukand Ltd has expressed interest in expanding its plant capacity there.
The company is now in a strategic alliance with Kalyani Steels Ltd with a 0.6 million annual capacity. Steel plant located at Hosapete makes steel using mini blast furnace technology, with iron ore and metallurgical coke as major inputs.
“The company officials met us from the industries and commerce department at the ‘Invest Karnataka 2016’ road show held in Mumbai. The senior management has expressed interest in expanding production capacity,” Ratna Prabha, Karnataka Additional Chief Secretary told
“We have asked the company officials to submit a detailed proposal, which will be looked into favourably,” she added.
Along with Mukand Ltd, Ruchi Soya Industries has also expressed interest in investing ₹350 crore in the State. The company, which is the largest manufacturer of edible oil, signed a MoU at the ‘Invest Karnataka 2016’ road show.
“Ruchi Soya’s investment in Karnataka involves both the agriculture and energy sectors,” said Ratna Prabha.
Indo Count Industries Ltd, a vertically integrated textile manufacturing company promoted by Anil Kumar Jain and associates, is also willing to invest ₹350 crore to set up a new unit in Belagavi.
According to Ratna Prabha, Eklog, a polish company specialising in sold waste management and sewerage treatment, has expressed interest to invest $150 million in the State to set up plants. “The company has sought State government’s permission to set up pilot plants in major cities,” she added.
The investment road show was led by RV Deshpande, Karnataka Minister for Large and Medium Scale Industries and Tourism, and was attended by leading industrialists from the State.