Bangalore: The Baldota Group is establishing a new Rs 4,700-crore steel plant, which will mostly make up products for passenger cars as well as auto parts producers based out of southern and western India. The group company, Aaress Iron & Steel Ltd (AISL), which is setting up the project, hopes to finish the first phase consisting of 1.2 million tonnes (mt) capacity by the end of 2010.
The steel plant is being established in Koppal in northern Karnataka. In the second phase, 2.5-mt capacity will be added with an infusion of Rs 8,500 crore. The company will also establish two power plants of 35 MW each near the steel plant. AISL mulls to begin work on setting up the second phase of the steel plant by 2009.
The steel plant is being established in Koppal in northern Karnataka. In the second phase, 2.5-mt capacity will be added with an infusion of Rs 8,500 crore. The company will also establish two power plants of 35 MW each near the steel plant. AISL mulls to begin work on setting up the second phase of the steel plant by 2009.
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