Baldota Group to set up Integerated steel plant in Karnataka

Bangalore: The Baldota Group, a top wind energy producer, on Wednesday announced the launch of a new company to set up an integrated steel plant in the Koppal district of Karnataka.

Mr Narendra Kumar A. Baldota, Chairman and Managing Director, MSPL Ltd and Baldota Group of Companies, said that the project will be implemented by Aaress Iron Steel Ltd (AISL), the company created for the purpose.

The company will source ore from MSPL, a mining and ore-exporting company, as well as other suppliers. The project with an initial investment of Rs 4,469 crore is expected to start production by the end of next year.

Mr Baldota said AISL will be initially setting up the steel plant to produce alloy and special steel. He said the plant capacity will be further expanded to 5 million tonnes soon. The company is also setting up a captive power plant of 70 MW capacity, which will be scaled up to 340 MW along with capacity increase in steel production.

The pellet plant of 1.2 million tonnes capacity is being set up by the group’s flagship company MSPL with an investment of Rs 200 crore. The company has entered into an agreement with Sinosteel MECC, China, for the supply of technology and equipment.