Baldota Group to invest Rs 54,000 cr to set up steel plant in Karnataka
Bengaluru, Feb 10 (PTI): Ahead of the Global Investors Meet (GIM), the Karnataka government received a major boost as the Baldota Group announced an investment of Rs 54,000 crore to set up an integrated steel plant in Koppal taluk with a production capacity of 10.50 million tonnes per annum.
A government statement said the company will sign a Memorandum of Agreement during the GIM on Tuesday in the presence of Chief Minister Siddaramaiah.
"Rahul Kumar N Baldota, Joint Managing Director of the Baldota Group, made this announcement," it said.
"The new steel plant will be established under the name Baldota Steel and Power Limited (BSPL) in Koppal. According to Rahul Kumar Baldota, this project will significantly boost steel production in Karnataka and generate large-scale employment opportunities for locals," the statement said.
"Our vision is to make Baldota a leading company in the country. This project will undoubtedly become Karnataka's pride in the steel industry," it quoted Rahul Baldota, as saying.
ALSO READ: Karnataka expecting Rs 10 lakh cr investment commitments in investor meet: Minister MB Patil
The Baldota Group is a leading player in mineral exploration, mining, industrial gases, pellet production, wind power, shipping, and waste treatment products. It also operates iron ore mines in Karnataka.
With a 70-year legacy in mining, the Baldota Group has received a five-star rating award from the Centre for six consecutive years, the statement said.
According to the Karnataka government, the company has planted two million trees and adopted 20 villages under its corporate social responsibility (CSR) initiative, contributing to education, healthcare camps, sanitation, and women's empowerment in rural areas.
Invest Karnataka 2025, the state's flagship Global Investors' Meet (GIM), will be held from February 12-14.
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RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
