In a major boost for Karnataka’s industrial growth, the Baldota Group has announced plans to invest ₹54,000 crore to set up an integrated steel plant in Koppal taluk. The plant, with an annual production capacity of 10.5 million tonnes, is expected to significantly enhance the state’s steel output and create thousands of jobs. The investment comes ahead of the Global Investors Meet (GIM), where the company will sign a Memorandum of Agreement in the presence of Chief Minister Siddaramaiah.
Rahul Kumar N Baldota, Joint Managing Director of the Baldota Group, revealed that the new plant will be named Baldota Steel and Power Limited (BSPL). He highlighted the project’s potential to strengthen Karnataka’s position in the steel industry. “Our vision is to make Baldota a national leader in steel production. This plant will be a milestone for Karnataka and a source of pride for the state,” he said.
The Baldota Group, a well-established conglomerate with over 70 years of experience, operates in diverse sectors such as mining, mineral exploration, industrial gases, wind power, and waste treatment. The group has been recognized for its excellence in mining, receiving a five-star rating from the Centre for six consecutive years. It also manages several iron ore mines in Karnataka.
In addition to its industrial ventures, the Baldota Group has actively contributed to community development through its corporate social responsibility (CSR) initiatives. The company has planted two million trees and adopted 20 villages, focusing on improving education, healthcare, sanitation, and women’s empowerment in rural areas.
The upcoming Global Investors Meet, scheduled for February 12-14, 2025, is expected to showcase Karnataka as a prime destination for industrial investments. The Baldota Group’s massive investment in the steel sector is a key highlight of the event, signaling confidence in the state’s growth potential.
With its strong legacy and diversified portfolio, the Baldota Group continues to play a pivotal role in Karnataka’s industrial and economic development. The new steel plant is set to further solidify its position as a leader in the mining and steel industries.
