Posted on 13 Feb 2025
India’s Karnataka state is set to receive an INR 54,000 crore ($6.5 billion) investment for a new integrated steel plant in Koppal.
The planned facility will have a production capacity of 10.5 million tonnes/year, further strengthening the region’s steel industry, notes Kallanish.
The investment will be formalised at Karnataka’s Global Investors Meet (GIM) this week. The state is already a key steel producer, home to major plants like JSW Steel in Ballari and Visvesvaraya Iron and Steel Plant (VISL) in Bhadravati.
Karnataka’s prominence in the steel industry is largely due to its abundant mineral resources. The state has vast reserves of iron ore, particularly magnetite, which is essential for steel production.
Bellary, Chitradurga, and Chikmagalur are key mining hubs. The availability of other minerals like manganese and limestone further supports the industry’s growth.
Additionally, Karnataka’s well-developed infrastructure, including strong transportation and communication networks, ensures the smooth movement of raw materials and finished products. A skilled workforce and investor-friendly policies have also made the state an attractive destination for major steel projects.
This investment is expected to boost India’s steel output, generate employment, and drive industrial growth in the region.
Source:Kallanish
