Baldota Group, a diversified conglomerate with interests in renewable energy, mining, and logistics, has unveiled plans to invest ₹54,000 crore in establishing an integrated steel plant in Koppal, Karnataka. The greenfield project, named Baldota Steel and Power Limited (BSPL), is designed to have a production capacity of 10.5 million tonnes per annum (MTPA), positioning it as the second-largest steel facility in the state.
The project will be executed in phases, with the first phase targeting a capacity of 3.5 MTPA. This initial phase has already received environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF&CC) following a comprehensive Environmental Impact Assessment (EIA). The remaining capacity is planned to be added incrementally, aiming for full completion by 2030.
In line with sustainable practices, the plant will incorporate a 295 MW captive power generation unit utilizing waste gases and fuels, ensuring efficient resource utilization and minimal environmental impact. The project is expected to create significant employment opportunities, both directly and indirectly, contributing to the socio-economic development of the region.
The establishment of BSPL aligns with India’s national objective to increase its steel production capacity to 300 MTPA by 2030. Baldota Group’s initiative is poised to contribute 10.5 MTPA towards this target, reinforcing the country’s position in the global steel industry.
Addressing environmental concerns raised by certain civil society groups, Baldota Group has proactively released the findings of the EIA conducted during the project’s design stage. The assessment outlines measures for sustainability, pollution control, and waste management, underscoring the company’s commitment to responsible industrial development.Business & Finance News
The project is set to be formalized through a memorandum of agreement with the Karnataka state government during the upcoming Global Investors’ Meet, with Chief Minister Siddaramaiah expected to be present.
This strategic investment by Baldota Group is anticipated to significantly enhance Karnataka’s industrial landscape, fostering economic growth and contributing to India’s infrastructure development goals.
