JSW group to invest Rs. 1 trillion (US$ 12.08 billion) in Karnataka in five years, say Mr. Sajjan Jindal

JSW group to invest Rs. 1 trillion (US$ 12.08 billion) in Karnataka in five years, say Mr. Sajjan Jindal

The JSW Group’s chairman, industrialist Mr. Sajjan Jindal, announced on November 2, 2022 that his company plans to invest Rs. 1 trillion (US$ 12.08 billion) in all of its Karnataka-based businesses over the following five years.

In the Ballari-Hospete iron ore belt, JSW runs a steel plant in Vijayanagar, Karnataka. India’s largest single-location integrated steel-making facility, the production unit in Vijayanagar has a current capacity of 12 million tonnes per annum (mtpa).

“Minerals like iron ore will not always be needed for the production of steel – hence it is imperative that these assets are monetised at the earliest. Mineral auctions will encourage investments in the manufacturing sector and support Karnataka’s growth trajectory”, said Mr. Jindal

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

Leave a Reply

Your email address will not be published. Required fields are marked *