Karnataka   

Baldota Group to set up steel plant

Bangalore: The Baldota Group announced on Wednesday the launch of Aaress Iron and Steel Ltd. (AISL) which is to establish an integrated steel plant with an annual capacity of 1.0 million ton per annum (mtpa) in Koppal district. The facility will include a pellet plant with a capacity of 1.2 mtpa in Halavarty and Basapura villages, according to a release issued by the company. The foundation stone for the green field plants coming up in an area of 1,000 acres was laid by the Chairman and Managing Director Narendra Kumar A. Baldota on Wednesday.

The integrated steel plant, is being established with an investment of Rs. 4,469 crore. The plant is to produce alloys and special steels and is scheduled to commence production by the end of 2009. Mr. Baldota said the capacity will be further expanded to 5.0 mtpa soon. The company is also establishing a captive power plant with a capacity of 70 MW.

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