Karnataka   

Two companies keen on setting up steel plants in Gadag

GADAG: Two companies have evinced interest in setting up steel plants at a cost of Rs. 2,200 crore in Gadag district.

This was disclosed during an interaction of Gadag district administration with industry representatives and other officials here on Monday. The meeting was chaired by the district in-charge Minister B. Sriramulu.

The meeting was informed that Kothari Steel Mines Ltd. of Kanpur and Matrix Metallics Private Ltd. of Mumbai were interested in investing Rs. 1,000 crore and Rs. 1,200 crore, respectively, for setting up the plants in the district.

“These companies will set up steel plants with a total production capacity of 1.26 million tonnes. And for that they require 1,000 acres of land not suitable for agriculture, 40 cusecs of water, 25 MW power and proper rail and road connectivity,” Y.D. Vyasaraj, coordinator for the two companies, said. He said the companies would provide direct and indirect employment to 2,000 people and also facilitate setting up of ancillary industrial units.

Mr. Sriramulu said that he would take up the issue with the high-level committee headed by Chief Minister B.S. Yeddyurappa. He said steps would be taken to constitute a taskforce for the purpose.

Mr. Sriramulu asked the coordinator to hold detailed discussions with the management of the two companies and submit a detailed report on the project. Participating in the interaction, Parliamentary Secretary to the Chief Minister C.C. Patil said that a location in the radius of 10 km from Gadag would be suitable for the steel plants and also for development of the region.

Joint Director of the District Industry Centre Mahantesh Karur informed the meeting that 12 locations had been identified for setting up the steel plants in the district. Deputy Commissioner of Gadag N. Sriraman, Superintendent of Police B.S. Prakash and Chief Executive Officer of zilla panchayat B.F. Patil were among those present.

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