JSW Group to invest another Rs 1 lakh crore in Karnataka over next 5 years in green energy, new greenfield port: Chairman Sajjan Jindal

JSW Group to invest another Rs 1 lakh crore in Karnataka over next 5 years in green energy, new greenfield port: Chairman Sajjan Jindal

Photo : BCCL

New Delhi: Having already invested over Rs 1 lakh crore in Karnataka, the JSW Group is planning to invest another Rs 1 lakh crore in the state over the next five years, its Chairman Sajjan Jindal announced on Wednesday.
“This is in addition to our investment of one lakh crore in the state and the investment includes investment in steel, green energy, cement, paints and a new greenfield port in Karnataka,” Jindal said in his address to the inaugural function of Invest Karnataka 2022.

Addressing the event on Wednesday, Jindal noted that the JSW Group’s Ballari steel plant in Karnataka has grown to be the biggest in India and would soon become the biggest steel plant in the world. He also requested the state government to consider mineral auctions as it would further encourage investment in the manufacturing sector and support Karnataka’s growth trajectory.

In this context, Jindal lauded the Odisha government for being the “most aggressive” state in auctioning “the mineral assets, the mines”.

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“When I speak for the evolution that is taking place in steel making, time is of essence. As minerals like iron ore will always be not needed for production of steel, hence, it’s imperative that these assets are monetised at the earliest,” Jindal said.

Karnataka has held its position as one of the most preferred investment destinations in India, truly representing the government’s “One State, Many Opportunities” mantra, Jindal said, adding that quality education, pro-active governance and effective policy-making have rendered Bengaluru our start-up capital, with the highest Ease of Doing Business score in the country.

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Invest Karnataka 2022

Earlier, Prime Minister Narendra Modi addressed the inaugural function of the Global Investors Meet via video conferencing. During his address, PM Modi lauded the beautiful blend of tradition and technology, culture and innovation in Karnataka. The meet is aimed at attracting prospective investors and setting up development agenda for the next decade.
The three-day summit which began on November 2 will conclude on November 4. It would witness more than 80 speaker sessions, including Kumar Mangalam Birla, Sajjan Jindal, Vikram Kirloskar among others.

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