Baldota Group has announced a major investment of ₹54,000 crore to build a greenfield steel plant in Karnataka. This new plant will have a production capacity of up to 10.5 million tonnes (MT) of steel per year when it is fully operational.
Once completed, the facility will become the second-largest steel plant in Karnataka, creating a large number of jobs both directly and indirectly. Nagaraj N B, Vice President of the Group’s Integrated Steel Project, highlighted that the group has already received environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF&CC) for the first phase of the project. This phase, with an initial capacity of 3.5 MT, is expected to begin later this year. The remaining capacity will be developed in phases, with full operations anticipated by 2030.
India aims to increase its total steel production capacity to 300 MT by 2030, and Baldota Group’s new plant will contribute significantly to this target. In addition, the plant will feature a 295 MW captive power plant, which will use waste gases and alternative fuels, reflecting the group’s commitment to sustainability and efficient resource use.
In response to concerns about potential environmental impacts, the company has released the findings of its Environmental Impact Assessment (EIA). The study, conducted during the design phase, outlines measures to control pollution and manage waste, aiming to minimize the environmental impact of the project.
Baldota Group, which has a history in industries like renewable energy, shipping, mining, and industrial gases, is expanding into steel production. This move marks a significant step for the Karnataka-based conglomerate, positioning it as a key player in India’s industrial development in the years to come.
With over 70 years of experience, the Baldota Group is well-established in the mining sector, particularly in iron ore extraction. It operates multiple mines across Karnataka and has built a strong reputation for its commitment to sustainability. The group has earned a five-star rating from the Centre for six consecutive years.
Alongside its business operations, Baldota Group has contributed to social welfare through its corporate social responsibility initiatives. These efforts have included planting two million trees and supporting 20 villages, focusing on education, healthcare, sanitation, and women’s empowerment.
